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Reggie Fowler, a former NFL team owner and the suspected “shadow banker” involved in the Tether and Bitfinex saga, will finally have his day in court as his trial is scheduled for early 2022.
The recent report about Tether (USDT) facing a criminal probe in the US, published by Bloomberg and covered by CryptoSlate, received a snappy response, in which the issuers of the largest stablecoin claimed the alleged accusations don’t constitute news but are published as clickbait.
Tether (USDT) FUD surrounding the stablecoin’s issuance could have a new chapter in the form of criminal charges, which would mark a major development in the US government’s crackdown on crypto.
Triggered by this week’s sell-offs, Jim Cramer expressed his concerns that Tether, as “the Achilles heel” of cryptocurrency, brings further risk exposure to markets.
A research paper titled “Taming Wildcat Stablecoins,” published in the Social Science Research Network (SSRN) by a professor of finance at Yale, Gary Gorton, and the US Federal Reserve attorney Jeffery Zhang, urges supervision of stablecoins.
Input Output Global CEO Charles Hoskinson said in a recent ask-me-anything (AMA) Tether relies on faith, rather than impartial systems, making it counter to cryptocurrency ideals.
During May, the wealth management platform YIELD App, saw net deposits of Tether (USDT) increase 15.5%, while net deposits of USD Coin (USDC) more than doubled, increasing 155.5%, compared to April.
Attorney Jeremy Hogan gave his legal assessment of the top five cryptocurrencies naming Tether and Binance Coin as at risk on the “SEC danger rating.” Hogan has been covering the SEC vs.
Tether Global, the company that powers USDT, the largest stablecoin by market capitalization, will launch its dollar-backed stablecoins on Avalanche, it said in an announcement yesterday.
Caitlin Long, the founder of crypto bank Avanti Bank and a leading blockchain advocate, took to Twitter yesterday to explain the market sell-off, linking it to stablecoin issuer Tether.