"Is Tether working hand in hand with the FBI because it doesn't want to get into trouble?"
Tether, the creator of the popular USDT stablecoin that publicly disclosed a letter sent to a key United States (US) legislative committee has entered into an agreement with the Secret Service and the Federal Bureau of Investigation (FBI).
The letters are addressed to the US House Financial Services Committee and the US Senate Banking, Housing and Urban Affairs Committee, so here it can be seen that Tether is committed to preserving security.
Under the leadership of newly appointed Tether CEO Paolo Ardoino, he elaborated on the methods used to prevent individuals from exploiting USDT, thus it managed to freeze 326 wallets and control 435 million USDT.
Not only that, the recent wallet freeze under sanctions from the US Office of Foreign Assets Control (OFAC) also occurred when Tether froze 161 Ethereum (ETH) wallets even though 150 currently do not contain any USDT.
Ardoino also said Tether has agencies such as the Department of Justice (DOJ), the US Secret Service and is in the process of doing the same with the FBI.
The move was made in response to an October 26 letter written by Senator Cynthia M. Lummis and Congressman J. French Hill to US Attorney General Merrick Garland that alleged Binance and Tether aid in crypto-financed terrorism.
They also claimed that the two entities did not do enough due diligence despite knowing that there were groups using stablecoins for terrorist and other illicit purposes.
However, Tether remains steadfast in its commitment to support law enforcement efforts and help victims, so its team investigates if there is misuse of USDT or crypto for illegal purposes
