Tether Market Scam Investigation Updat
Speaking during an interview, Dan Roberts of Yahoo spoke in great detail about the Tether Bitcoin market scam and the investigation launched into it by Louis Freeh, previous Director at the FBI.
Based in Hong Kong, Tether was at the center of a major controversial incident earlier this year within the crypto-sphere. Several accusations that Tether was manipulating prices on the market to boost the price of Bitcoin to its all-time high last year. Accusations came from John Griffin and Amin Shams, two fellow researchers at UoT. Freeh was then assigned to conduct an investigation into the company and its transparency.
Roberts then mentioned his discussion with Freeh and how the former director is ready to move forward with more crypto-investigations. Roberts stated that this was the agents first ever investigation into a crypto-centered incident and that he was expected to conduct many more of these investigations as per a rise in requests by many.
Additionally, he states that a possible unit would be created within the FBI to tackle these exact situations and be dedicated to cryptocurrency investigations, saying that Freeh has mentioned the idea previously. During the investigation, it was discovered that Tether had $2.545B although only $2.535 of the total sum were circulating. Despite visual evidence being present that confirms that none of the two banks or the company were known about the picture proof presented.
Tether, on the other hand, stated that the company was under heavy accusations and criticism for many months now and said that many simply do not understand how the company functions, hence all the unfavorable comments, accusations, reports and more on Tether. Many investors are also concerned regarding USDT being supported by USD and the validity of it all.
One user on Reddit’s website commented saying that USDT was indeed meant to remain and maintain its $1 value as a direct substitute to the USD. The user also adds that it’s operating properly and that is what counts since it provides safe Bitcoin and Tether trading. Another user also commented, stating that the price has tampered and how the user cannot comprehend just how the price of Bitcoin will be affected by Tether.