The US Department of Justice publicly thanked Tether for its role in disrupting Xinbi Guarantee, a Chinese-language crypto marketplace accused of supporting fraud and money laundering. Authorities restrained over $52 million in digital assets linked to the platform, which operated mainly on Telegram and facilitated scams including fake investment sites and money laundering. Tether's ability to freeze tokens quickly at the contract level was crucial in the coordinated sweep. This action is part of a broader US crackdown on large-scale crypto fraud, highlighting Tether's growing role as an active partner in investigations, beyond just compliance. While freezing assets is a key step, returning funds to victims can take months or years through legal processes. The case also underscores how Telegram and stablecoins have become central to transnational fraud operations.
In the latest 24-hour crypto fund flow data, Bitcoin (BTC) experienced a net outflow of $43.60 million, with $1.87 billion inflows and $1.92 billion outflows. Ethereum (ETH) led net inflows, attracting $77.08 million with $1.02 billion inflows agains...
Senator Richard Blumenthal has requested detailed records from Tether and Nxum, a consulting firm co-founded by former White House crypto official Bo Hines, regarding millions of dollars paid by Tether to Nxum while Hines worked on stablecoin policy....
Senator Richard Blumenthal is investigating payments made by Tether to Nxum, a consulting firm co-founded by Bo Hines, a former White House crypto adviser now leading Tether's U.S. operations. The probe focuses on potential ethical and legal issues s...
Bitcoin experienced the largest outflow among cryptocurrencies with $403.44 million leaving, while tokens such as SOXLB and Ethereum saw notable inflows of $7.23 million and $5.17 million respectively. Funds also flowed into the crypto market from va...
In the past 24 hours, Bitcoin (BTC) and XRP experienced significant net outflows, with BTC seeing the largest withdrawal of $302.61 million. Meanwhile, stablecoins USDC and USDT posted net inflows, led by USDC's $183.59 million inflow. Ethereum (ETH)...
