Crypto News

Tether Denies Reports Of U.S. Investigation Amid Minor USDT Depeg

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.”

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.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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