According to Bloomberg, a formal <a href="https://news.bloomberglaw.com/banking-law/tether-bank-fraud-probe-gets-fresh-look-by-justice-department" target="_blank" rel="nofollow noopener">investigation</a> into potential bank fraud by <a href="https://www.cryptoknowmics.com/news/roche-firm-booted-from-tether-action-after-crypto-leaks-post">Tether</a> officials in the company's initial periods has been redirected to DOJ after months of inactivity. Damian Williams, the U.S. Attorney for the Southern District of New York (SDNY), is now in charge of the Department of Justice's (DOJ) investigation.
<h2>Response by Tether to the Case Transfer to DOJ</h2>
Tether <a href="https://tether.to/en/bloomberg-fishes-age-old-news-for-headlines" target="_blank" rel="nofollow noopener">replied</a> with a statement rejecting the allegation, saying,

"This is Bloomberg repeating old news that isn't even real. There's nothing significant that they are aware of."

However, allegations of shady financial links and complex accounting procedures have dogged the stablecoin issuer for a long time. Tether and cryptocurrency exchange Bitfinex resolved a well-publicized dispute with the New York Attorney General last year, resulting in both companies, owned by the same holding company expelled from the state. The stablecoin deposits use from Tether to recover $850 million in Bitfinex funds owned by Panama-based processing company Crypto Capital, which had subsequently ordered their confiscation, was at the heart of that lawsuit. Earlier this year, Reggie Fowler, the founder of <a href="https://www.cryptoknowmics.com/news/sec-sues-chicago-crypto-capital-employees-illegally-sell-bxy-tokens">Crypto Capital</a>, entered a guilty plea to criminal charges.
<h2>Tether, Holepunch, and Synonym Launch Pear Credit</h2>
On October 28, it was <a href="https://tether.to/en/tether-holepunch-and-synonym-launch-pear-credit-a-p2p-credit-system" target="_blank" rel="nofollow noopener">reported</a> that ear Credit, a peer-to-peer lending platform that enables issuers to produce peer-to-peer lending 'tokens' will be launched. Pear Credit is a pure peer-to-peer protocol established by Tether, Holepunch, and Synonym that claims to provide credit issuers with a speedier, more affordable, and scalable token format without depending on blockchains or any other international shared-state networks.
<h2>Tether USDT to be Available in Over 24,000 ATMs</h2>
Cryptoknowmics <a href="https://www.cryptoknowmics.com/news/tether-usdt-to-be-available-in-over-24000-atm-across-brazil-from-3-nov">reported</a> that Tether announced that it would make USDT, the most valuable stablecoin in the world by market value, accessible at over 24,000 ATMs across Brazil. In Brazil, over 24,000 ATMs will start accepting Tether (USDT) as of November 3, according to a statement issued by the business.

Investigation into US Tether Bank Fraud Transferred to DOJ

A formal investigation into potential bank fraud by Tether officials in the company's initial periods has been redirected to DOJ after months of inactivity.

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Investigation into US Tether Bank Fraud Transferred to DOJ

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