Bitcoin Stays In Range Despite Alleged Tether Criminal Probe Report
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:
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."
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