The post Tether Denies Reports Of U.S. Investigation Amid Minor USDT Depeg appeared on BitcoinEthereumNews.com.

The Wall Street Journal recently reported that U.S. authorities are investigating Tether, the issuer of the stablecoin USDT. However, Tether’s CEO swiftly denied these claims on the platform X (formerly Twitter). He clarified that the company maintains regular communication with law enforcement to prevent any misuse of USDT by rogue states, terrorists, or criminals. “We would be aware of any ongoing investigation if there was one, which there is not,” the CEO stated, adding that the claims in the report are “unequivocally false.” At Tether, we deal regularly and directly with law enforcement officials to help prevent rogue nations, terrorists and criminals from misusing USDt. We would know if we are being investigated as the article falsely claimed. Based on that, we can confirm that the allegations in… — Paolo Ardoino 🤖🍐 (@paoloardoino) October 25, 2024 No Significant Disruption Recorded  In terms of market impact, on-chain data indicates that USDT flows to exchanges are stable, reflecting no significant disruption in user activity. Although USDT experienced a minor price deviation, dipping slightly from its peg, trading volumes and liquidity levels appear unaffected. The news also led to a brief dip in Bitcoin’s price, which fell to around $67,000. However, Tether’s management remains confident that these reports will not impact USDT’s stability, underscoring that the company’s relationship with regulators and law enforcement is transparent and cooperative. WSJ reports that Tether is being investigated by US authorities. Tether’s CEO has responded there’s no investigation going on. From an On-chain perspective USDT flows into exchanges remain at normal levels, although USDT’s price deviated a little bit to the downside. pic.twitter.com/q2YCHWMS4l — Julio Moreno (@jjcmoreno) October 25, 2024 Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated…

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Filed under: News - @ October 28, 2024 10:19 am