Tether Says it Supports El Salvador in its Visa Program

Tether, the largest dollar-referenced stablecoin issuer by market cap, says it is working with El Salvador on its “Adopting El Salvador Freedom Visa Program.” The Visa program aims to attract individuals who will help boost the economy of the Central American country.

Timeline of Tether

The market capitalization of Tether‘s stablecoin USDT has surpassed $90 billion. This indicates strong investor demand for stablecoins and the growth of their use in the digital economy.

Tether, the company behind the issuance of USDT, the largest stablecoin, has blacklisted more than 30 addresses that have received billions in USDT since their first use. According to blockchain intelligence firm Chainargos, the blacklisted addresses had received $161 million from Whitebit, a European exchange with Ukrainian roots.

In a bid to revolutionize capital raisings, Bitfinex and Tether launched ALT2611, a tokenized bond backed by Tether (USDT). However, two weeks after its debut, the result has been disappointing. With an initial goal of raising 10 million USDT, only a modest 15% has been achieved, equivalent to 1.5 million USDT.

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.

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In a notable shift toward transparency, cryptocurrency giants Tether and Bitfinex have withdrawn their opposition to the Freedom of Information Law (FOIL) request.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.