• bitcoinBitcoin (BTC) $ 92,396.00
  • ethereumEthereum (ETH) $ 3,345.85
  • tetherTether (USDT) $ 0.998537
  • xrpXRP (XRP) $ 2.03
  • bnbBNB (BNB) $ 698.15
  • solanaSolana (SOL) $ 188.05
  • dogecoinDogecoin (DOGE) $ 0.311688
  • usd-coinUSDC (USDC) $ 1.00
  • staked-etherLido Staked Ether (STETH) $ 3,343.82
  • cardanoCardano (ADA) $ 0.842353
  • tronTRON (TRX) $ 0.251736
  • avalanche-2Avalanche (AVAX) $ 35.49
  • the-open-networkToncoin (TON) $ 5.51
  • wrapped-stethWrapped stETH (WSTETH) $ 3,961.28
  • chainlinkChainlink (LINK) $ 20.33
  • shiba-inuShiba Inu (SHIB) $ 0.000021
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 92,379.00
  • suiSui (SUI) $ 4.13
  • hedera-hashgraphHedera (HBAR) $ 0.273795
  • wethWETH (WETH) $ 3,344.95
  • polkadotPolkadot (DOT) $ 6.61
  • stellarStellar (XLM) $ 0.325217
  • hyperliquidHyperliquid (HYPE) $ 26.70
  • bitget-tokenBitget Token (BGB) $ 6.23
  • bitcoin-cashBitcoin Cash (BCH) $ 435.90
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  • uniswapUniswap (UNI) $ 13.01
  • pepePepe (PEPE) $ 0.000018
  • litecoinLitecoin (LTC) $ 98.65
  • wrapped-eethWrapped eETH (WEETH) $ 3,530.05
  • ethena-usdeEthena USDe (USDE) $ 0.998199
  • nearNEAR Protocol (NEAR) $ 5.02
  • usdsUSDS (USDS) $ 1.00
  • aaveAave (AAVE) $ 327.49
  • aptosAptos (APT) $ 8.81
  • internet-computerInternet Computer (ICP) $ 9.97
  • mantleMantle (MNT) $ 1.20
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  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.455711
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  • vechainVeChain (VET) $ 0.043077
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  • fetch-aiArtificial Superintelligence Alliance (FET) $ 1.26
  • arbitrumArbitrum (ARB) $ 0.726214
  • okbOKB (OKB) $ 49.58
  • filecoinFilecoin (FIL) $ 4.81
  • kaspaKaspa (KAS) $ 0.115411
  • ethenaEthena (ENA) $ 0.955380
  • algorandAlgorand (ALGO) $ 0.317215
  • cosmosCosmos Hub (ATOM) $ 6.20
  • optimismOptimism (OP) $ 1.79
  • tokenize-xchangeTokenize Xchange (TKX) $ 29.94
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  • theta-tokenTheta Network (THETA) $ 2.25
  • blockstackStacks (STX) $ 1.49
  • celestiaCelestia (TIA) $ 4.72
  • first-digital-usdFirst Digital USD (FDUSD) $ 1.00
  • movementMovement (MOVE) $ 0.922307
  • fantomFantom (FTM) $ 0.739709
  • binance-peg-wethBinance-Peg WETH (WETH) $ 3,345.09
  • gatechain-tokenGate (GT) $ 15.77
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  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.030729
  • the-graphThe Graph (GRT) $ 0.200798
  • usual-usdUsual USD (USD0) $ 1.00
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  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,754.45
  • worldcoin-wldWorldcoin (WLD) $ 2.04
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  • sei-networkSei (SEI) $ 0.399229
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 3,452.05
  • flokiFLOKI (FLOKI) $ 0.000172
  • lido-daoLido DAO (LDO) $ 1.84
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 92,354.00
  • quant-networkQuant (QNT) $ 107.28
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  • thorchainTHORChain (RUNE) $ 4.48
  • mantle-staked-etherMantle Staked Ether (METH) $ 3,522.98
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 92,881.00
  • fasttokenFasttoken (FTN) $ 3.37
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  • tezosTezos (XTZ) $ 1.29
  • pyth-networkPyth Network (PYTH) $ 0.361296
  • the-sandboxThe Sandbox (SAND) $ 0.528669
  • nexoNEXO (NEXO) $ 1.28
  • binance-staked-solBinance Staked SOL (BNSOL) $ 192.48
  • solv-btcSolv Protocol SolvBTC (SOLVBTC) $ 92,086.00
  • based-brettBrett (BRETT) $ 0.119198
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 3,445.84
  • curve-dao-tokenCurve DAO (CRV) $ 0.915159
  • eosEOS (EOS) $ 0.757880
  • kaiaKaia (KAIA) $ 0.193331
  • ethereum-name-serviceEthereum Name Service (ENS) $ 32.79
  • jupiter-exchange-solanaJupiter (JUP) $ 0.798188
  • flowFlow (FLOW) $ 0.691457
  • starknetStarknet (STRK) $ 0.465838
  • dydx-chaindYdX (DYDX) $ 1.46
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  • arweaveArweave (AR) $ 15.87
  • heliumHelium (HNT) $ 5.90
  • msolMarinade Staked SOL (MSOL) $ 234.13
  • bittorrentBitTorrent (BTT) $ 0.000001
  • bitcoin-svBitcoin SV (BSV) $ 51.44
  • aerodrome-financeAerodrome Finance (AERO) $ 1.41
  • iotaIOTA (IOTA) $ 0.281860
  • coredaoorgCore (CORE) $ 1.06
  • neoNEO (NEO) $ 13.62
  • axie-infinityAxie Infinity (AXS) $ 6.08
  • jito-governance-tokenJito (JTO) $ 3.39
  • elrond-erd-2MultiversX (EGLD) $ 33.48
  • zcashZcash (ZEC) $ 58.40
  • solv-protocol-solvbtc-bbnSolv Protocol SolvBTC.BBN (SOLVBTC.BB) $ 91,769.00
  • matic-networkPolygon (MATIC) $ 0.454550
  • aioz-networkAIOZ Network (AIOZ) $ 0.769765
  • decentralandDecentraland (MANA) $ 0.464498
  • apecoinApeCoin (APE) $ 1.19
  • wbnbWrapped BNB (WBNB) $ 698.11
  • wormholeWormhole (W) $ 0.298544
  • fartcoinFartcoin (FARTCOIN) $ 0.830865
  • pendlePendle (PENDLE) $ 5.06
  • spx6900SPX6900 (SPX) $ 0.878974
  • mog-coinMog Coin (MOG) $ 0.000002
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 3,340.90
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 92,299.00
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 3,342.52
  • usddUSDD (USDD) $ 0.996678
  • popcatPopcat (POPCAT) $ 0.776230
  • chilizChiliz (CHZ) $ 0.082141
  • dexeDeXe (DEXE) $ 13.18
  • eigenlayerEigenlayer (EIGEN) $ 3.51
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 3,348.94
  • conflux-tokenConflux (CFX) $ 0.155536
  • reserve-rights-tokenReserve Rights (RSR) $ 0.013521
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.48
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 200.67
  • gnosisGnosis (GNO) $ 274.50
  • akash-networkAkash Network (AKT) $ 2.82
  • zksyncZKsync (ZK) $ 0.190054
  • roninRonin (RON) $ 1.85
  • mina-protocolMina Protocol (MINA) $ 0.575731
  • peanut-the-squirrelPeanut the Squirrel (PNUT) $ 0.681124
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.310989
  • echelon-primeEchelon Prime (PRIME) $ 13.16
  • compound-governance-tokenCompound (COMP) $ 75.38
  • ecasheCash (XEC) $ 0.000034
  • havvenSynthetix Network (SNX) $ 1.94
  • dydxdYdX (ETHDYDX) $ 1.46
  • fraxFrax (FRAX) $ 0.996434
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 3,523.44
  • tether-goldTether Gold (XAUT) $ 2,604.89
  • ether-fi-staked-btcEther.fi Staked BTC (EBTC) $ 92,501.00
  • amp-tokenAmp (AMP) $ 0.007587
  • turboTurbo (TURBO) $ 0.009163
  • notcoinNotcoin (NOT) $ 0.006150
  • gigachad-2Gigachad (GIGA) $ 0.065327
  • superfarmSuperVerse (SUPER) $ 1.39
  • axelarAxelar (AXL) $ 0.670704
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000107
  • susdssUSDS (SUSDS) $ 1.03
  • cat-in-a-dogs-worldcat in a dogs world (MEW) $ 0.006535
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 3,627.20
  • layerzeroLayerZero (ZRO) $ 5.14
  • dog-go-to-the-moon-runeDog (Bitcoin) (DOG) $ 0.005688
  • oasis-networkOasis (ROSE) $ 0.084373
  • grassGrass (GRASS) $ 2.31
  • ordinalsORDI (ORDI) $ 26.50
  • livepeerLivepeer (LPT) $ 14.94
  • beldexBeldex (BDX) $ 0.078967
  • 1inch1inch (1INCH) $ 0.384841
  • paypal-usdPayPal USD (PYUSD) $ 1.00
  • kusamaKusama (KSM) $ 33.12
  • pax-goldPAX Gold (PAXG) $ 2,623.15
  • vanaVana (VANA) $ 16.93
  • apenftAPENFT (NFT) $ 0.00000052
  • chex-tokenCHEX Token (CHEX) $ 0.515271
  • blurBlur (BLUR) $ 0.242899
  • aixbtaixbt by Virtuals (AIXBT) $ 0.510674
  • safeSafe (SAFE) $ 0.986028
  • usdx-money-usdxusdx.money USDX (USDX) $ 0.995985
  • nervos-networkNervos Network (CKB) $ 0.011154
  • baby-doge-coinBaby Doge Coin (BABYDOGE) $ 0.00000000
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 92,099.00
  • true-usdTrueUSD (TUSD) $ 1.00
  • frax-etherFrax Ether (FRXETH) $ 3,335.38
  • kavaKava (KAVA) $ 0.452916
  • pumpbtcpumpBTC (PUMPBTC) $ 91,358.00
  • usualUsual (USUAL) $ 0.993551

CHART: Tether has attracted US government action 19 times

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CHART: Tether has attracted US government action 19 times

  protos.com 2 h

CHART: Tether has attracted US government action 19 times

On Friday, the Wall Street Journal broke news of another US government investigation into Tether. Anonymous sources familiar with the Manhattan US attorney’s office say that senior law enforcement officials are “looking at whether the cryptocurrency has been used by third parties to fund illegal activities.”

This announcement is yet another chapter in Tether’s legal saga. As early as 2012, lawsuits began against Bitcoinica — whose source code was used by Tether’s sister company, Bitfinex.

Legal issues would affect Tether every year since.

As the world’s largest stablecoin, tether (USDT) attracts criminals who find its properties of pseudonymity, chargeback resistance, and widespread acceptance to be useful. Although most uses of USDT are innocuous, its illegitimate uses are pernicious.

To track Tether’s run-ins with the US government across time, Protos has created a chart of some major US government actions involving the stablecoin giant. Note that this chart includes only US governmental actions and excludes numerous civil lawsuits and criminal investigations around the world.

CHART: Tether has attracted US government action 19 times

Click to enlarge.

US government actions involving Tether

  • September 18, 2015
    • Bitfinex comments on its Commodity Futures Trading Commission (CFTC) probe.
    • USDT market cap: $451,000.
  • June 2, 2016
    • Bitfinex settles a CFTC allegation that it illegally traded customers’ bitcoin.
    • USDT market cap: $2.9 million.
  • July 21, 2016
    • Trendon Shavers, operator of a Ponzi scheme promoted by Bitfinex founder Raphael Nicolle, receives a prison sentence.
    • USDT market cap: $6.9 million.
  • September 14, 2017
    • Tether admits to the New York State Attorney General (NYAG) that since April 2017, it has not had a bank account with more than $61.5 million in cash.
    • USDT market cap: $418 million.
  • May 24, 2018
    • The Department of Justice (DoJ) and CFTC open a criminal probe into USDT-based bitcoin price manipulation.
    • USDT market cap: $2.5 billion.
  • April 25, 2019
    • NYAG demands documents from Tether.
    • USDT market cap: $2 billion.
  • May 1, 2019
    • Arizona US Attorney charges ‘shadow banker’ Reginald Fowler for fraudulently moving Tether’s funds.
    • USDT market cap: $2 billion.
  • May 5, 2019
    • The Southern District of New York (SDNY) US Attorney charges Fowler and Ravid Yosef for criminally misappropriating Tether’s reserves.
    • USDT market cap: $2 billion.
  • October 25, 2019
    • Ivan Manuel Molina Lee is arrested on charges of laundering money through Bitfinex.
    • USDT market cap: $4.2 billion.
  • September 24, 2020
    • US attorneys file charges against cartel members for using USDT in bribes.
    • USDT market cap: $15.2 billion.
  • February 23, 2021
    • Bitfinex pays $18.5 million to settle NYAG claims that it covered up major financial losses.
    • USDT market cap: $34.7 billion.
  • July 26, 2021
    • DoJ probes alleged bank fraud committed by Tether executives.
    • USDT market cap: $62 billion.
  • July 27, 2021
    • US President’s Working Group on Financial Markets discusses Tether.
    • USDT market cap: $62.2 billion.
  • October 15, 2021
    • CFTC fines Tether $41 million for false claims about USD reserves.
    • USDT market cap: $70 billion.
  • December 8, 2021
    • A US Senator chastises Tether executives for not attending a Senate hearing.
    • USDT market cap: $77 billion.
  • February 8, 2022
    • Ilya Lichtenstein and Heather Morgan arrested for stealing money from Bitfinex.
    • USDT market cap: $78 billion.
  • August 3, 2022
    • A Boston US Attorney seizes 73,586 USDT proceeds of crime.
    • USDT market cap: $66 billion.
  • December 15, 2023
    • Tether admits it has complied with information requests from DoJ, IRS, and Secret Service.
    • USDT market cap: $90.8 billion.
  • October 25, 2024
    • A Manhattan US Attorney is investigating Tether.
    • USDT market cap: $120 billion.

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