{"id":649911,"date":"2024-10-25T20:26:15","date_gmt":"2024-10-25T20:26:15","guid":{"rendered":"https:\/\/wncen.com\/?p=649911"},"modified":"2024-10-25T20:30:02","modified_gmt":"2024-10-25T20:30:02","slug":"tether-defends-its-record-blasts-wsj-for-irresponsible-reporting","status":"publish","type":"post","link":"https:\/\/wncen.com\/breaking-news-ticker\/tether-defends-its-record-blasts-wsj-for-irresponsible-reporting\/","title":{"rendered":"Tether Defends Its Record, Blasts WSJ For &#8216;Irresponsible Reporting&#8217;"},"content":{"rendered":"<p><span style=\"font-weight: 400\">In a recent report by the Wall Street Journal (WSJ), it was alleged that Tether is currently under federal investigation for potential violations related to sanctions and anti-money laundering (AML) regulations in the US.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The inquiry, <\/span><a href=\"https:\/\/bitcoinist.com\/tether-in-the-hot-seat-us-federal-inquiry\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">reportedly <\/span><\/a><span style=\"font-weight: 400\">led by prosecutors from the Manhattan US Attorney\u2019s Office, is said to focus on whether Tether&#8217;s stablecoin, USDT, has been used by third parties to finance illegal activities such as drug trafficking, terrorism, and hacking, or to launder the proceeds from these activities.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Tether CEO Denies Investigation Claims<\/span><\/h2>\n<p><span style=\"font-weight: 400\">In response to these serious allegations, Tether has issued a <\/span><a href=\"https:\/\/tether.io\/news\/tether-slams-wsjs-irresponsible-reporting-stands-by-strong-law-enforcement-track-record\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">statement <\/span><\/a><span style=\"font-weight: 400\">strongly criticizing the WSJ&#8217;s reporting. The company called the article &#8220;wildly irresponsible,&#8221; asserting that it is inappropriate for the WSJ to publish such definitive claims without verified sources or corroboration from authorities.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The stablecoin issuer also emphasized that it has no knowledge of any ongoing investigations, characterizing the report as based on &#8220;pure rank speculation.&#8221;<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/shiba-inu-inflows-soar-555-in-3-months-will-the-momentum-continue\/\" target=\"_blank\" rel=\"noopener \">Shiba Inu Inflows Soar 555% In 3 Months \u2013 Will The Momentum Continue?<\/a><\/div>\n<p><span style=\"font-weight: 400\">Tether\u2019s CEO, Paolo Ardoino, also took to social media platform X (formerly Twitter) to further address the issue, <\/span><a href=\"https:\/\/x.com\/paoloardoino\/status\/73799912\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">stating<\/span><\/a><span style=\"font-weight: 400\">, &#8220;As we told to WSJ, there is no indication that Tether is under investigation. WSJ is regurgitating old noise. Full stop.&#8221;\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This response underlines the company&#8217;s commitment to transparency in the face of these allegations and the increased scrutiny it has faced in recent years, not only from the US authorities but also from news outlets such as the WSJ, and its stance against what it considers to be unfounded allegations.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Commitment To Combating Cryptocurrency Misuse<\/span><\/h2>\n<p><span style=\"font-weight: 400\">The article from the WSJ also reportedly downplays Tether&#8217;s extensive collaborations with law enforcement agencies aimed at combating illicit activities involving cryptocurrencies.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-125000-trump-win-standard-chartered\/\" target=\"_blank\" rel=\"noopener \">Bitcoin To Hit $125,000 By Year-End If Trump Wins, Says Standard Chartered<\/a><\/div>\n<p><span style=\"font-weight: 400\">Tether highlighted its proactive measures to work with the authorities to ensure that its platform is not misused by bad actors. Their response concluded:<\/span><\/p>\n<blockquote>\n<p style=\"text-align: left\"><span style=\"font-weight: 400\">The article also carelessly glosses over Tether\u2019s well-documented and extensive dealings with law enforcement to crack down on bad actors seeking to misuse tether and other cryptocurrencies.<\/span><\/p>\n<\/blockquote>\n<figure style=\"width: 1814px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/ECysdocO\/\" alt=\"Tether\" width=\"1814\" height=\"858\"><figcaption class=\"wp-caption-text\">The 1D chart shows the total crypto market cap valuation drop to the $2.23 trillion following the WSJ report. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/7W2R5XTA\/\" target=\"_blank\" rel=\"noopener nofollow\">TOTAL on TradingView.com<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">Featured image from DALL-E, chart from TradingView.com\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a recent report by the Wall Street Journal (WSJ), it was alleged that Tether is currently under federal investigation for potential violations related to sanctions and anti-money laundering (AML) regulations in the US.\u00a0 The inquiry, reportedly led by prosecutors from the Manhattan US Attorney\u2019s Office, is said to focus on whether Tether&#8217;s stablecoin, USDT, has been used by third parties to finance illegal activities such as drug trafficking, terrorism, and hacking, or to launder the proceeds from these activities. Tether CEO Denies Investigation Claims In response to these serious allegations, Tether has issued a statement strongly criticizing the WSJ&#8217;s reporting. The company called the article &#8220;wildly irresponsible,&#8221; asserting that it is inappropriate for the WSJ to publish such definitive claims without verified sources or corroboration from authorities.\u00a0 The stablecoin issuer also emphasized that it has no knowledge of any ongoing investigations, characterizing the report as based on &#8220;pure rank speculation.&#8221; Related Reading: Shiba Inu Inflows Soar 555% In 3 Months \u2013 Will The Momentum Continue? Tether\u2019s CEO, Paolo Ardoino, also took to social media platform X (formerly Twitter) to further address the issue, stating, &#8220;As we told to WSJ, there is no indication that Tether is under investigation. WSJ is regurgitating old noise. Full stop.&#8221;\u00a0 This response underlines the company&#8217;s commitment to transparency in the face of these allegations and the increased scrutiny it has faced in recent years, not only from the US authorities but also from news outlets such as the WSJ, and its stance against what it considers to be unfounded allegations. Commitment To Combating Cryptocurrency Misuse The article from the WSJ also reportedly downplays Tether&#8217;s extensive collaborations with law enforcement agencies aimed at combating illicit activities involving cryptocurrencies.\u00a0 Related Reading: Bitcoin To Hit $125,000 By Year-End If Trump Wins, Says Standard Chartered Tether highlighted its proactive measures to work with the authorities to ensure that its platform is not misused by bad actors. Their response concluded: The article also carelessly glosses over Tether\u2019s well-documented and extensive dealings with law enforcement to crack down on bad actors seeking to misuse tether and other cryptocurrencies. Featured image from DALL-E, chart from TradingView.com\u00a0<\/p>\n","protected":false},"author":589,"featured_media":649912,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[86683],"tags":[6664,14690,1558,4100,91454,88618,16835,91241],"class_list":["post-649911","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-news-ticker","tag-crypto","tag-crypto-news","tag-cryptocurrency","tag-tether","tag-tether-usdt","tag-tether-ceo","tag-tether-controversy","tag-tether-news"],"acf":[],"yoast_head":"\n<title>Tether Defends Its Record, Blasts WSJ For &#039;Irresponsible Reporting&#039;<\/title>\n<meta name=\"description\" content=\"In a recent report by the WSJ, it was alleged that Tether is currently under federal investigation for potential violations.\" \/>\n<meta name=\"robots\" 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With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies. Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology. Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry. One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision. Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities. Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth. However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape. Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge. With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. 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