As the U.S. government mounted its bruising legal campaign against the crypto industry over the past two years, one company has evaded charges: Tether, the firm behind the eponymous stablecoin pegged to $1 that has become the go-to currency for a wide variety of blockchain transactions.
Tether may no longer be avoiding serious scrutiny, however, as the Wall Street Journal reported on Friday that federal prosecutors in Manhattan are investigating whether Tether violated money laundering and sanctions laws through its use by global criminal networks for drug trafficking, terrorism, and hacking. The company is adamantly denying the allegations.
