- Bloomberg’s report says Tether’s executives are under scrutiny.
- The Department of Justice supposedly is investigating the firm for fraudulent activity.
- Tether responded to the matter through a note of its own.
The world’s third-largest cryptocurrency by market cap — Tether, is under scrutiny. According to a report by Bloomberg, it seems the Department of Justice is investigating the company’s executives for possible fraudulent activity.
In detail, the US entity is looking for possible signs of bank fraud. In particular, the Justice Department will be investigating some top-ranking Tether executives. It will be looking into the possible misconduct in terms of bank fraud and other criminal activity.
The criminal investigation could uncover criminal activities that will hold the firm and its executives accountable. To highlight, the entity will be checking in on obscure transactions that could be tied to money laundering amongst other illegal activities.
To counter t...