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Bitcoin Stays In Range Despite Alleged Tether Criminal Probe Report

Cryptocurrency
26.07.2021
80
Bitcoin Stays In Range Despite Alleged Tether Criminal Probe Report
Source: Adobe/dennizn

Bitcoin (BTC) trimmed its gains today, before rebounding again despite claims that executives behind the most popular stablecoin, tether (USDT), might face a criminal probe.

At 14:33 UTC, BTC trades at USD 38,473, rebounding from USD 37,889, reached after a report by Bloomberg said that a US probe into Tether is homing in on whether executives behind the digital token committed bank fraud. BTC is still up by 13% in a day.

BTC price today:

Bitcoin Stays In Range Despite Alleged Tether Criminal Probe Report
Source: coingecko.com

Federal prosecutors are scrutinizing whether Tether concealed from banks that transactions were linked to crypto, the report said, citing three undisclosed people with direct knowledge of the matter. A decision on whether to bring a case could be made soon, it added.

While the Justice Department (DoJ) declined to comment, Tether said that they “routinely [have] open dialogue with law enforcement agencies, including the DoJ, as part of our commitment to cooperation and transparency.”

Author:cryptonews
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