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
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