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The biggest stablecoin in the world by market size, putting its alleged connections to bank crime under a more intense spotlight.
Bloomberg stated in July 2021 that the DoJ was looking into whether Tether officials during its early years "hidden from banks that transactions were tied to crypto."
According to the $18.5 million settlement Tether and its connected cryptocurrency exchange Bitfinex made with the New York Attorney General in 2021
Tether struggled from the start to persuade banks to establish or maintain business ties (NYAG).
Williams is a veteran of law enforcement and works for the SDNY, which is without a doubt the best at looking into financial misdeeds.
Williams has played a crucial part in the investigations against top executives at Bitmex who were involved in money laundering.
Insider trading at the Coinbase exchange and NFT marketplace OpenSea, crypto tax fraud, and countless other scams involving the cryptocurrency industry.
As was to be expected, Tether wrote a blog post criticising Bloomberg of being "desperate for attention in a sector that they just do not comprehend."
Keep in mind that iFinex corporations have a history of downplaying negative news and outright lying about the truth in settlements like the one with the NYAG in 2021.