😠 United States 🇺🇸 may ban USDT

😠 United States 🇺🇸 may ban USDT

Tether Holdings Ltd, the issuer of the USDT token, is facing new controversy. Federal prosecutors in Manhattan are investigating whether Tether has been used to finance illicit activities, including drug trafficking, terrorism, hacking, and money laundering.

▶️ Why is there suspicion? ⁉️ — Authorities suspect possible connections with entities in Moscow. The investigation gained momentum in March after Garantex, a Moscow-based crypto exchange accused of illegal activities, was sanctioned. Although Tether Holdings Ltd denies any involvement, officials from OFAC remain skeptical.

▶️ Financial context: USDT has a market capitalization of nearly 120 billion USD, making it the third-largest cryptocurrency by market value. Its popularity is due to its role as a dollar alternative, especially in markets where traders cannot access traditional currencies.

▶️ Political perspective: With the presidential election approaching, a significant segment of the crypto community is expected to support Trump, who has shown support for the sector amid what he calls a “witch hunt.” Polymarketestimates that Trump has a 66% chance of securing the votes of crypto enthusiasts.

#news #cryptocurrency #USA #geopolitics

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