Department of Justice Revamping Investigations into Tether USDT – Here’s What You Need to Know
Source: iStock/standret The US Department of Justice has revamped a probe into whether Tether’s executives committed bank fraud in the early days of the stablecoin. According to a Bloomberg report, the investigation has been transferred to another team within the DOJ and is now directed by US Attorney Damian Williams of Manhattan in the Southern District of New York (SDNY). In July last year, Bloomberg claimed federal prosecutors in Washington were investigating whether top officials at Tether hid the nature of its crypto-related transactions and deceived its banking partners during the fledgling days of its business. "But after months of legal wrangling, the case has been transferred within the department, according to people familiar with the matter," the report said, adding that Williams, who has been one of the most "aggressive" in pursuing suspected cryptocurrency crimes, took over the inquiry in recent weeks. Citing former federal prosec...