Lawmakers have urged the Department of Justice to investigate Binance and Tether, despite reports that Hamas used the crypto firms. A pro-crypto senator has also called for the prosecution of Binance and Tether, citing previous enforcement actions against them. Tether has been linked to illicit finance, including financing terrorism, and has faced criticism for being the largest financial fraud in history. Circle is also facing scrutiny for shutting down redemptions of USDC for consumer accounts, similar to Tether. There are concerns about the use of Tether by terrorist organizations on the TRON blockchain.
240% increase in the use of Tether fraud on the TRON blockchain by terrorist organizations in the past year! 🚀🚀🚀 Tether adoption is skyrocketing... with terrorists! Maybe Justin Sun can be the useful idiot for Tether? https://t.co/kDE7ZrPeaf https://t.co/0mlXo2jYAK
This needs to be brought home. Crime is crime. Tether and Binance are the scapegoats. Both are massive frauds. Senator Lummis makes it clear (once again) that crypto isn’t the problem, but rather the bad actors. Everyone in the space should support eliminating the frauds. https://t.co/E2rYX9gjuQ
There's not a single person that has come forward in the past six years and said that they redeemed Tether, here's how it works. Nearly everyone that has endorsed Tether and said they redeemed Tether, is currently sitting in prison for bank fraud, money laundering, etc. Some… https://t.co/YdyKa9SLL0 https://t.co/4DZHAuRfRI
Circle USD is shutting down redemptions for "consumer" accounts to stop their accounts from being bled dry by Tether bros. The problem now is Tether bros will make an endless supply of shell companies and then become "institutionalized" redeemers... And then USDC will be forced… https://t.co/rHrWr8iv6c https://t.co/UhGhPbJjKa
Circle is shutting down redemptions of USDC for “consumer” accounts. That means only institutionalized investors will be able to mint and redeem USDC. Circle is basically making USDC non-redeemable just like the Tether fraud. So much for open money. H/t @Evan_ss6 https://t.co/wBHs5vJrvi
There’s going to be a massive Tether fraud pump as Tethers assets start being seized and crypto exchanges refuse to delist a fraudulent stablecoin. Lot of people are going to get hurt. Time to stop supporting fraud.
Imagine still defending the Tether fraud. https://t.co/WtXD17fBLo
Fun Fact: Senator Lummis cited Tethers CFTC's fines & bank fraud criminal investigation. It's more than just about financing terrorism. Tether is also the largest financial fraud in history. And everyone in crypto has been defending the Tether fraud.
Tether keeps showing up in investigations tied to illicit finance. In the past year, the world's most popular cryptocurrency appears to have been used for Hamas, drug dealers, North Korea and sanctioned Russians. https://t.co/z9Nt0quSWA
A pro-crypto senator just sent a letter to the US attorney general to prosecute Binance & Tether, and cited Tethers previous enforcement actions against them. I’m sure legitimate institutionalized investors are tripping their over their shoelaces to buy more Tethers.
Lawmakers urged the Department of Justice to look into Binance and Tether in light of reports that Hamas used the crypto firms, even if those reports were "likely not accurate." Read more: https://t.co/NgMW9Q0HSW
Absolute horseshit. There’s thousands of people that fell victim to scammers using Tether to steal tens of billions of dollars via pig butchering. Tether tells these people to go pound sand when they try to get their money back. Tether doesn’t care about anyone but themselves. https://t.co/ynzILZPKgt
Pro Crypto Senator Lummis "FUD"'s about Tether. Imagine Tethering yourself to the Titanic. It's time for the industry to throw Tether under the bus. It's a fraud that catastrophically harmed the industry. It's time to move on from supporting fraud. https://t.co/GGBrd0my8t https://t.co/REM4qiSAO0