Tether, one of the most well-known stablecoin organizations, recently revealed that they have collaborated with a number of U.S. govt agencies, including the Secret Service, FBI (Federal Bureau of Investigation), and DOJ (Department of Justice).
These team-ups are not focused on creating a safe stablecoin ecosystem for all involved parties while aiding law enforcement actions against all the bad actors.
Tether Reveals FBI, DOJ, And Secret Service Ties In Unveiled Letters
Tether, the organization behind the launch of USDT, has recently revealed its relationship with multiple U.S. govt agencies. In a range of letters written for Senator Cynthia Lummis, the organization has highlighted the collaborative relationship that Tether has with the Secret Service, the FBI, and the DOJ to “combat illegal activities and aid in fund recovery.”
On 15th December, the CEO of Tether, Paolo Ardoino, said that the organization stated that they have managed to take a very proactive stance on security, freezing wallets included in the OFAC (Office of Foreign Asset Control) SDN (Specially Designated Nationals) list. Moreover, Ardoino mentioned that this particular measure is a “definitive move designed to protect our users and the integrity of the stablecoin ecosystem.”
Additionally, Ardoino specified how Tether’s methods enable these agencies to work in sync with the company. He said, “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).”
Of course, the collaborations have given out significant results, with Tether informing that nearly 326 wallets with 435 million dollars have been simply frozen, and that too in direct collab with these three government agencies.