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Tether Refutes WSJ’s Recent Accusations

Tether Refutes WSJ’s Recent Accusations

Tether has dismissed accusations of involvement in fraudulent bank account acquisition using falsified documents made on March 3.

The Wall Street Journal claimed that documents in their possession showed that Tether and a related cryptocurrency broker concealed identities.

The article cited messages from Tether Holdings Ltd.’s owner, Stephen Moore, who expressed concern about the risks of using false documents and warned against engaging in fraudulent or money laundering practices.

Despite this, at least one Tether executive, allegedly Moore himself, had signed false documents. Tether refuted the claims as “wholly inaccurate and misleading” and stated that it maintained compliance programs and worked with enforcement agencies.

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Paolo Ardoino, Tether’s CTO, also dismissed the report as containing “misinformation and inaccuracies” on Twitter.

The Wall Street Journal has previously criticized Tether for various issues, but the company’s USDT token remains the largest stablecoin with a market cap of $71 billion and a 24-hour volume of $43 billion.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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