Tether, the largest stablecoin issuer, has appeared in the crosshairs of the U.S. Department of Justice, Bloomberg reports.
The DOJ is investigating whether the company’s executives committed bank fraud by hiding the fact that Tether’s transactions were pegged to crypto.
The offenses date back to the earliest days of the largest stablecoin issuer.
The Bloomberg report had little effect on the Bitcoin price. After initially dipping 2 percent, the largest cryptocurrency continues to trade above the $38,000 level. It is up more than 12 percent over the past 24 hours.