A U.S. investigation into Tether, the issuer of stablecoin USDT, has been denied publicly.
According to the Wall Street Journal, federal prosecutors in Manhattan are investigating possible anti-money laundering (AML) violations involving Tether.
In the report, unnamed sources suggested USDT might have been used for illicit purposes.
The company has categorically denied these allegations, emphasizing its commitment to regulatory compliance.
There’s a rising concern about Tether from conservative nonprofit Consumers’ Research, which has previously claimed that bad actors are using it. These claims, however, are dismissed by Tether as unfounded.
Meanwhile, bitcoin is reaching new heights. On Monday, it surged past the $70,000 threshold, peaking at $70,218. The broader crypto market also benefited from this bullish momentum, with several altcoins joining the rally. As of today, the crypto market boasts a valuation of $2.31 trillion, with a significant increase in trading volume. With major events like the U.S. election, the GDP report, and the Federal Open Market Committee (FOMC) meeting on the horizon, the crypto market is bracing for more volatility in the days ahead.
In addition, data from CoinMarketCap shows bitcoin’s dominance at 59.8%, while the Crypto Fear and Greed Index is reflecting “greed” with a score of 72, signaling optimism in the market.
Key Takeaways:
-Tether denies allegations of AML violations and U.S. government investigation.
-Bitcoin reaches $70,218, with the total crypto market valued at $2.31 trillion.
-Upcoming events like the U.S. election and GDP report could impact market sentiment.
Stay informed and keep an eye on these developments, as the crypto market continues to evolve. For more updates , visit our website www.zabira.ng
