USDT will remain stable, No material impact of DOJ probe
Yesterday the news shaked USDT users. The news was spreading ” Tether facing criminal probe issues by DOJ”. Now Tether clearly talked about it and says ” USDT will remain stable”.
Recently the news was getting lots of hype, because many big news sources were talking about the criminal case allegation against Tether to “regarding involvement of Tether because of Bank fraud activity case”. This news resulted into a big fear for crypto Community. But now Tether has come to this matter openly and talked about it.
Related: Tether is under investigation by DOJ regarding bank fraud
According to reports, Tether has responsibility & needs to appear in material event about the USDT & Digital Currencies. And it is their duty to report and comply with the regulators & justice department, so that they operate their operations under better legalisation procedure. And people should not get into any type of rumour of unhealthy stability of USDT.
Once in crypto history, the price of USDT crashed to around 87% when people heared about the news of China’s strict capital controls regarding CNY-USD conversion. So many experts were feeling that it may again happen again. So due to these types of fears & speculations. Bloomberg also reported something like this and claimed that the price of USDT is below $1 and also many speculation they did.
But now Tether has come out in public and dismissed the report from Bloomberg and said that they are trying to trick the crypto Community or trying to make news. The case in which they have appeared in the DOJ is common for them and it is a many year old case. And also the price of USDT will remain stable because many businesses are using USDT at international level and also the market of USDT is very big which is under full better working protocol.
routinely has open dialogue with law enforcement agencies, including the US Department of Justice, as part of our commitment to cooperation, transparency, and accountability”
Tether foundation
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