Tether Bank Probe Gets Fresh Look by US Justice Department (1)
By Tom Schoenberg and Matt Robinson
Oct. 31, 2022, 6:46 PM
A Justice Department probe into a controversial corner of the crypto world -- Tether -- has been struggling to reach a conclusion. Now a new team is taking a crack at investigating whether executives behind the popular stablecoin committed a crime.
Last year, federal prosecutors in Washington warned top officials at Tether that they could be charged for allegedly deceiving banks they used to move cash, people familiar with the situation said at the time. But after months of legal wrangling, the case has been transferred within the department, according to people familiar with the matter.