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Tether is Being Targeted by the U.S. Gov!
Brad Garlinghouse says it is “clear” that the US government is “going after” stablecoin issuer Tether.
Danielle du Toit
May 13, 2024
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It’s ‘Clear’ the US Government is Going After Tether - Ripple CEO
Decade-Old Bitcoin Whales Resurface with $61 Million Move
Forensic Risk Alliance Appointed to Monitor Binance for Next 3 Years
Uniswap Founder Urges Joe Biden to Reverse His Stance on Crypto
Ripple CEO Brad Garlinghouse says it is “clear” that the United States government is “going after” stablecoin issuer Tether.
During a recent podcast, Brad Garlinghouse predicted that there will almost certainly be another crypto-related black swan event similar to the FTX collapse.
He mentioned that the U.S. government appears to be targeting Tether, but did not specifically point out that this could be the black swan event he was talking about.
Ripple itself is also planning on launching its own stablecoin in 2024.
Two Bitcoin wallets that have been inactive for almost a decade suddenly transferred BTC valued at around $61 million.
The two Bitcoin wallets transferred a total of 1,000 Bitcoin, starting with the first wallet moving 500 Bitcoin at block 843,131 on May 12.
Not long after this, the second wallet executed a similar transaction.
When the wallets initially received the Bitcoin in September of 2013, the price per Bitcoin was only $134. Now, the cryptocurrency’s price has climbed by 456 times from the original value.
Law firm Sullivan & Cromwell was first considered for the contract, but their previous involvement with FTX changed the DOJ's decision.
The U.S. Department of Justice selected Forensic Risk Alliance (FRA) to oversee compliance at Binance after the exchange's guilty plea to money laundering and other charges in November of 2023.
Binance agreed to a plea deal that resulted in a $4.3 billion fine and third-party oversight of its operations for three years.
FRA will have access to Binance's internal records, premises, and employees to monitor and make sure the crypto exchange complies with regulations.
The Uniswap Founder believes that Biden and other Democrats’ anti-crypto stance could harm the crypto industry.
Hayden Adams, founder of Uniswap, criticized President Joe Biden and other Democrats for their negative stance on cryptocurrencies, which he believes could damage the industry.
Adams is also worried that Biden and his supporters see crypto as irrelevant for the 2024 election, which is only contributing to a lack of clear regulatory direction.
Former President Donald Trump supported crypto in a recent speech and also criticized Biden for his skepticism and lack of understanding of the sector.
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