Bitcoin falls after a report says the FBI is investigating Tether

A report in the WSJ could cool the crypto market.

  • DOJ and Treasury investigating Tether over potential sanctions violations and illicit activity
  • Manhattan US attorneys leading criminal probe into possible links to drugs, terrorism, hacking
  • Treasury mulling sanctions against world’s most traded crypto ($190B daily volume)
  • Comes as Tether steps up compliance, recently froze 1,850 wallets worth $114M
  • Investigation examining if stablecoin used to evade sanctions by Hamas, Russian arms dealers
  • Tether strongly denies allegations, says working with law enforcement
  • Cantor Fitzgerald manages $80B+ of Tether’s Treasury holdings
  • Follows $4.3B Binance settlement and previous $61M regulatory fine

Bitcoin is down 2.5% to $66,450 today and is under pressure on this report as it’s a sign that the whole ecosystem is under threat.

This article was written by Adam Button at www.forexlive.com. Source