Tether, the stablecoin company, has confirmed it has collaborated extensively with a series of U.S government agencies, including the Department of Justice (DOJ), the Federal Bureau of Investigation (FBI), and the Secret Service. These team-ups are focused on making the stablecoin ecosystem safer for all participants and aiding law enforcement actions against bad actors.
Tether Reveals FBI, DOJ, and Secret Service Ties In Unveiled Letters
Tether, the company behind the issuance of USDT, has revealed its links with several U.S. government agencies. In a series of letters directed to Senator Cynthia Lummis, Tether highlights the collaboration relationship that the company has established with the U.S. Department of Justice (DOJ), the Federal Bureau of Investigation (FBI), and the Secret Service, aiming to “combat illegal activities and aid in fund recovery.”
In a letter sent to Lummis on December 15, Tether CEO Paolo Ardoino states that the company had taken a proactive security stance, freezing the funds held in wallets included in the Office of Foreign Asset Control (OFAC) Specially Designated Nationals (SDN) list. Ardoino declared this measure is a “definitive move designed to protect our users and the integrity of the stablecoin ecosystem.”
Ardoino specifies Tether’s processes to allow these agencies to work in tandem with the company. He stated:
Tether recently onboarded the United States Secret Service into our platform and is in the process of doing the same with the Federal Bureau of Investigation (FBI).
The partnerships have yielded significant results, as Tether informed that approximately 326 wallets totaling $435 Million have been frozen in direct collaboration with these three agencies.
The letters are a direct answer to a letter Lummis sent to U.S. Attorney General Merrick Garland in October, calling the DOJ to evaluate the extent to which Tether and Binance have been provided “material support and resources to support terrorism through violations of applicable sanctions laws and the Bank Secrecy Act (BSA).”
Binance recently settled with the DOJ, pleading guilty to BSA violations and agreeing to pay over $4bn to resolve the investigation.
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