A report published by Bloomberg earlier today has attracted the criticism of Tether, the firm behind USDT, the largest stablecoin in the world.
As per a Bloomberg report published earlier today, the U.S Department of Justice has renewed a probe into Tether. This investigation was originally launched in 2018 over an alleged Bitcoin pump scheme facilitated by USDT. The report cited confidential sources while stating that the investigation has been transferred internally to a different department.
The case is now reportedly being handled by Damian Williams, the U.S Attorney for the Southern District of New York. Williams’ office is known for its aggressive investigations into cryptocurrency-related crimes.
The USDT issuer has not taken kindly to this report. Thecompany did not hold back while responding to Bloomberg’s claims and accused them of recycling old news that is factually incorrect.
CTO Paulo Ardoino took to Twitter to express his criticism of Bloomberg’s reporting.
It’s simply a shame that supposedly reliable media as Bloomberg find difficulties in understanding technology that is revolutionizing the world.” Ardoino said.
“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.” the company said in a statement.
According to the USDT issuer, company executives have had no interactions with the Department of Justice regarding any investigation for over a year . The company further assured that in the interest of transparency and accountability, there is an open line of communication with several law enforcement agencies.
Japan introduced its first yen-pegged stablecoin under domestic regulations on October 27, 2025, as startup…
Coinbase has launched Payments MCP, a Model Context Protocol implementation that gives AI agents access…
Estonia, 22nd October 2025, ZEX PR WIRE, AgriFi, a blockchain-powered agricultural finance protocol, is redefining…
Manchester Christmas Markets — The Beating Heart of Britain’s Festive Season London, UK, 21st October…
London, UK, 21st October 2025, ZEX PR WIRE, For millions of passengers travelling through Heathrow…
Dubai, UAE, 21st October 2025, ZEX PR WIRE, In a year that’s already shaping up…