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US Department of Justice is investigating Tether for market manipulation
2018-11-20T12:00:06Z - Neer Varshney / The Next Web
It seems US authorities aren’t yet done with controversial cryptocurrency Tether. The ‘USD-backed’ stablecoin is now being probed by the country’s Justice Department, according to a Bloomberg report. The US Department of Justice (DOJ) and Commodity Futures Trading Commission (CFTC) together launched a criminal probe into cryptocurrency market manipulation in May. As part of the probe, the Justice Department is looking into Tether’s claim of being USD-backed, how new Tether coins are created, and why they enter the market predominantly through Bitfinex. In June, researchers also suggested possibility of wash trading with Tether on cryptocurrency exchange desk Kraken.

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