PANews reported on October 27 that Tether issued an article on its official website condemning the irresponsible report of the Wall Street Journal. The article pointed out that it was extremely irresponsible for the Wall Street Journal to write articles with reckless accusations so confidently without any authoritative organization confirming these rumors or revealing the source of the news. These reports were based entirely on speculation. Tether also stated that the article also carelessly concealed Tether's well-documented and extensive cooperative transactions with law enforcement agencies aimed at combating bad actors who attempt to abuse Tether and other cryptocurrencies.
It is reported that Tether was investigated for holding enough assets to support the value of its token of $1. In 2021, federal prosecutors in Washington warned Tether executives that they might face charges related to allegedly misleading banks used to transfer funds. The investigation was then transferred to the U.S. Attorney's Office in Manhattan, but two years have passed without any formal charges or enforcement actions. So far, the U.S. Attorney's Office has not made an official statement on the matter.
