$BTC
The end of USDT 🤔
In recent days, several American companies have simultaneously attacked Tether, such as Circle, the USDC issuer, the USDC issuer partner Coinbase, and JP Morgan, the largest bank in the United States.
Circle is now openly attacking Tether, after the attack was limited to hints.
Caroline Hill, a senior official in the regulatory policy sector at Circle, asked the US Congress to expand the powers of the Treasury Department to be able to take action against Tether on the pretext of financing fraud and other malicious activities such as money laundering.
In the same session, a Coinbase official repeated the words, attacking Tether as well.
At the beginning of this month, JPMorgan attacked the USDT currency, and considered the increase in the currency’s market value a danger to the stablecoin market, and to the crypto field in general due to its lack of regulatory compliance, transparency, and following strict financial rules.
Yesterday, Bloomberg American published a case filed by creditors of the bankrupt FTX platform against Deltec Bank & Trust Ltd, a bank in the Bahamas, and the main bank for Tether.
Prosecutors accused the bank of allowing billions of USDT to be created without compensation by opening a short-term line of credit to Alameda that allowed it to mint billions of USDT without immediately depositing the amount, with the company paying the amount within 3 days.
