In the crypto money industry, problems with stablecoins continue to be on the agenda lately.
As one of the latest developments, allegations against stablecoin producer Tether have emerged. Allegedly, Tether used pre-opened bank accounts with false documents.
Allegedly Tether Used Old Bank Accounts With Forged Documents
Tether manages the $71 billion stablecoin Tether, the most widely traded cryptocurrency.
In late 2018, the companies behind the most widely traded cryptocurrency filed documents in which the companies changed their names slightly to maintain their access to the global banking system. According to the documents, some of his supporters have turned to dark brokers, fake documents and front companies.
Stephen Moore, one of the owners of Tether Holdings Ltd., said that one of these brokers, a major Tether trader in China, is trying to ” circumvent the banking system by providing fake sales invoices and contracts for every deposit and withdrawal.”
After these allegations, a statement came from the Tether front. Tether’s chief technology officer, Paolo Ardoino, said the WSJ report contained “a ton of misinformation and inaccuracies” without providing further details.
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