Paolo Ardoino, the CEO of stablecoin issuer Tether, has firmly denied the rumors that his company is being investigated by federal agencies.
Taking to the social media platform X, Ardoino has responded to a report from the Wall Street Journal (WSJ) which suggests that authorities are looking into potential violations of anti-money laundering and sanctions laws by Tether.
According to the WSJ, the Manhattan U.S. Attorney’s Office is examining whether Tether’s USDT has been utilized by malicious actors to finance illegal activities or launder the profits generated from criminal acts.
The report also states that the Treasury Department is considering imposing sanctions on Tether due to the “widespread use” of USDT among entities sanctioned by the US.
In his response, Ardoino dismisses the WSJ report as a rehashing of old narratives.
“We have already informed the WSJ that there is no indication of any investigation into Tether. The WSJ is simply repeating outdated information. That’s the end of it.”
Ardoino also emphasizes that Tether has been consistently cooperating with US authorities to prevent the misuse of USDT by nefarious individuals.
“At Tether, we regularly work closely with law enforcement officials to ensure that USDT is not misused by rogue nations, terrorists, or criminals. If we were under investigation, we would be aware of it, as the article falsely claims. Therefore, we can confirm that the allegations in the article are completely false.”
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