Stablecoin issuer Tether on Saturday responded to the Wall Street Journal’s report on using fake documents and shell companies to gain banking access. In fact, Tether is always surrounded by controversies and numerous accusations due to the extensive use of USDT stablecoin in the crypto market. WSJ Allegations on TetherThe WSJ report alleges that Tether and related brokers leveraged falsified documents and shell companies to gain banking access in 2018. At the time of writing, Tether (USDT) remains pegged to the US dollar at a $71 billion market cap. The stablecoin market has increased recently after the U.S. regulators stopped minting Paxos-issued Binance USD (BUSD) stablecoin.

Source: Wall Street Journal March 04, 2023 21:44 UTC