In March 2024, Tether helped the DOJ and FBI seize $1.4 million in USDT from a tech-support scam—funds were returned to victims
In June 2025, they assisted in freezing about $225 million tied to a massive "pig-butchering" fraud, working closely with the DOJ to identify and restrict wallets
Questions:
Why isn't Tether regulated like a bank? Why are governments allowing them to operate at this scale? They say they're a tech company issuing digital tokens, and that's how they manage to operate under unclear laws, based offshore in the Caribbean.
This doesn't make any sense. A company moves billions every month, acts like a bank, avoids regulation by calling itself a tech firm, and sets up shop offshore and governments just let it happen? Who owns that money? Who's really behind it?
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[ 3.4 ms ] story [ 14.3 ms ] threadIn June 2025, they assisted in freezing about $225 million tied to a massive "pig-butchering" fraud, working closely with the DOJ to identify and restrict wallets
Questions:
Why isn't Tether regulated like a bank? Why are governments allowing them to operate at this scale? They say they're a tech company issuing digital tokens, and that's how they manage to operate under unclear laws, based offshore in the Caribbean.
This doesn't make any sense. A company moves billions every month, acts like a bank, avoids regulation by calling itself a tech firm, and sets up shop offshore and governments just let it happen? Who owns that money? Who's really behind it?