The spreading of false information is the biggest threat to the cryptocurrency industry that currently exists. Bloomberg has proven themselves time and time again to be desperate for attention in an industry that they just do not understand. This most recent attempt to tarnish the reputation of Tether, one of the industry’s most significant contributors is yet another example of this behavior. This is Bloomberg recycling old news that isn’t even factual.
Bloomberg first reported on the DOJ's “investigation” in November of 2018 and in the years after. In the time since those stories have been published - stories which have been despicable attempts at crying wolf - Tether has in fact, been collaborating with law enforcement around the world. Many of the events they have fixated on in this story are not only inaccurate but are also occurrences that have happened with our sister company, Bitfinex. This represents yet another example of their incompetent journalism and inability to seperate fact from falsity.
It is business as usual at Tether, as we continue to lead the industry in transparency, as the largest and most agile stablecoin on the market. Sensationalized journalism and poor reporting will not stop that and any claims otherwise are blatant lies.
Tether routinely has open dialogue with law enforcement agencies, including the U.S. Department of Justice, as part of our commitment to cooperation, transparency, and accountability. We are proud of our role as industry leaders in promoting cooperation between industry and government authorities in the U.S. and around the world. We remain committed to our customers and the industry-leading technology and transparency that has led to our growth.
Furthermore, Tether has only enhanced its cooperation with the DOJ by helping the department in real time in connection with some of the biggest cybercrime and national security cases in the country. In fact, Tether executives have had no interactions with the DOJ in connection with any investigation for well over a year and the DOJ does not appear to be actively investigating Tether. Tether and Bitfinex have actually been identified as victims in the Fowler case that Bloomberg references.
As opposed to many in the industry, Tether has always empowered freedom of speech, access to information and combat censorship around the world. The launch of products like Keet enabled many users to be in control of their own data and communications channels which are fundamental to improving the human condition and breaking free from technology monopolies. Tether aims to create a contrast to the extreme centralization of news. It is simply a shame that supposedly reliable media such as Bloomberg find difficulties in understanding a technology that is revolutionizing the world. It is also a shame that their lack of accuracy, knowledge and curiosity have such consequences on believers in the industry. It is because of this we will see their outdated style of reporting and news coverage surpassed by new and innovative decentralized technologies. Tether will always be determined to lead the stablecoin market through the next wave of adoption and it will do so proudly regardless of critics and rumors.
Driving the Future of Money
Tether supports and empowers growing ventures and innovation throughout the blockchain as a digital token built on multiple blockchains.