Tether and Bitfinex yield: FOIL request opposition withdrawn

Tether and Bitfinex, key players in the cryptocurrency arena, have taken a noteworthy step towards transparency by retracting their opposition to a Freedom of Information Law (FOIL) request in New York.

Timeline of Tether

Tether, which claims to be one of the largest companies in the cryptocurrency industry, says that it continues its unwavering commitment “to combat illicit activities and provide support to victims through its assistance to, and support of, law enforcement agencies.” As the U.S.

In a notable shift toward transparency, cryptocurrency giants Tether and Bitfinex have withdrawn their opposition to the Freedom of Information Law (FOIL) request. This decision, pivoting from their previous stance, potentially marks a new chapter in the cryptocurrency regulatory narrative.

The U.S. Department of Justice (DOJ) has seized $9 million in tether (USDT) allegedly linked to “pig butchering” crypto scams. The Justice Department explained that U.S. Secret Service agents and analysts tracked the laundering of victims' crypto deposits through numerous cryptocurrency addresses, where they were exchanged for various cryptocurrencies.

Cryptocurrency exchange Binance has moved $3.9 billion in Tether (CRYPTO: USDT) from its cold wallet just before settling with the Department of Justice (DOJ). What Happened: According to a Decrypt report on Tuesday, this transfer took place just days prior to Binance and its CEO finalizing a $4.3 billion settlement with the DOJ over allegations of money laundering.

In a financial move that's raising eyebrows and fueling speculations, Binance, the renowned cryptocurrency exchange, has recently orchestrated a colossal transfer of $3.9 billion in USDT.

In a landmark operation, the U.S. Justice Department has successfully seized a hefty $9 million in USDT, Tether's cryptocurrency pegged to the U.S. dollar. This bold move unveils a complex web of deceit involving more than 70 unsuspecting victims, ensnared in what's known as “pig butchering” scams.

Tether has announced the “largest-ever freeze of USDT in history.” In collaboration with crypto exchange Okx, Tether froze $225 million in USDT following an investigation by the U.S. Department of Justice (DOJ). The tokens were allegedly linked to an international human trafficking syndicate in Southeast Asia responsible for a global “pig butchering” crypto scam.

The firm behind USDT has voluntarily frozen over $200 million worth of stablecoins to assist the U.S. Department of Justice (DOJ). In a new announcement, Tether says they are freezing $225 million in USDT funds in certain Southeast Asian wallets allegedly connected to “pig-butchering” romance scams.

Tether, in an unprecedented move, has frozen approximately $225 million in USDT tokens, linked to a human trafficking syndicate in Southeast Asia. This action, the largest-ever freeze of USDT in history, was executed in collaboration with the United States Department of Justice (DOJ) and global crypto exchange OKX.

Tether, the issuer of the USDT stablecoin, and crypto exchange OKX have partnered with the U.S. Department of Justice to seize $225 million, the largest-ever freeze of USDT in history, according to a Nov. 20 statement.