Tether says it has dropped its fraud investigation against the company

There has been a conflict between Tether and Bloomberg. The leading financial information provider recently announced the continuation of an investigation into the USDT issuer. 

According to Bloomberg's sources, the case has been transferred to another investigative office under the direction of Manhattan prosecutor Damian Williams. The official's office is known to have been highly negative toward the developers of the stablecoin.

Tether is reporting that it has recognized itself as an aggrieved party on par with the Bitfinex exchange. According to representatives of the cryptocurrency company, the financial publication is guided by old, unconfirmed news, and their articles are an example of incompetent journalism.

USDT developers claim that they are not only not under investigation but also help the police in the fight against cybercrime. According to them, the last time the bureau and Tether interacted on a fraud case was a year ago.  

In 2021, Bloomberg published a statement that an investigation was underway into Tether executives withholding information from banks about digital asset transactions.