Bitcoin Accelerates Despite Alleged Tether Criminal Probe Report

Bitcoin (BTC) trimmed its gains today, before rebounding again despite claims that executives behind the most popular stablecoin, tether (USDT), might face a criminal probe.

At 16:53 UTC, BTC trades at USD 39,184, rebounding from USD 37,889, reached after a report by Bloomberg said that a US probe into Tether is homing in on whether executives behind the digital token committed bank fraud. BTC is up by 15% in a day.

Federal prosecutors are scrutinizing whether Tether concealed from banks that transactions were linked to crypto, the report said, citing three undisclosed people with direct knowledge of the matter. A decision on whether to bring a case could be made soon, it added.

While the Justice Department (DoJ) declined to comment, Tether said that they “routinely [have] open dialogue with law enforcement agencies, including the DoJ, as part of our commitment to cooperation and transparency.”

(Photo : Facebook)

bitcoin
Bitcoin (BTC) $ 66,991.95 0.30%
ethereum
Ethereum (ETH) $ 3,120.78 0.91%
tether
Tether (USDT) $ 1.00 0.01%
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USDC (USDC) $ 1.00 0.00%
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