Tether denied Bloomberg’s statement about the extension of the investigation into the company

Tether, the issuer of the USDT stablecoin, has denied Bloomberg’s claim that the company’s investigation is ongoing and has been transferred to another investigation team.

Bloomberg, citing its sources, declaredthat the investigation into the alleged fraud of the USDT issuer is in the final stages transferred to another investigation team. Bloomberg claims U.S. Attorney Damian Williams in Manhattan took over the investigation.

This is bad news for the Tether community, as Williams’ office in the Southern District of New York has been one of the most aggressive in the investigation into the company. However, according to Tether, their company was recognized as a victim, like the Bitfinex exchange, in one of the lawsuits:

“Bloomberg is recycling old news that isn’t even true. This is yet another example of their incompetent journalism and inability to separate facts from lies.”

Tether said it had not interacted with the US Department of Justice in connection with the investigation in over a year. In addition, the company is partnering with the Department of Justice to assist the department with some of the largest cybercrime and homeland security cases in the country.

In 2021, Bloomberg, citing its sources, reported that US prosecutors were investigating whether Tether executives hid from banks that their banking activities were related to cryptocurrencies.