WSJ report alleges Tether of using falsified documents and shell companies to have access to banking services Tether responds to the report by calling it misleading and inaccurate Tether, the issuer of the largest stablecoin, has called the Wall Street Journal report “wholly inaccurate and misleading. The WSJ report accused the firm of using falsified […]
WSJ report alleges Tether of using falsified documents and shell companies to have access to banking servicesTether, the issuer of the largest stablecoin, has called the Wall Street Journal report “wholly inaccurate and misleading. The WSJ report accused the firm of using falsified documents and shell companies to open bank accounts in 2018. The report stated that the company had opened accounts under the names of executives from various companies.
The stablecoin issuer also stated that the “unfair attacks” by WSJ would not distract them from issuing the “most liquid and reliable stablecoin experience”. Moreover, Paolo Ardonio – CTO of Bitfinex and Tether – also spoke about the report on his social media platform. On Twitter, he said, “Love the obsession for Tether. I hope WSJ will not start asking Tether a rent. So far we lived rent free in their minds.
Notably, the United States Department of Justice was investigating Tether’s executives for banking fraud, according to a 2021 report by Bloomberg. In response, the stablecoin issuer had stated the report of “repackaging stale claims”.Subscribe to get it daily in your inbox.
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