Tether CEO Paolo Ardoino has emphatically addressed recent accusations stemming from a Wall Street Journal report that suggested a criminal investigation into Tether. In a detailed social media post, Ardoino rebuffed the claims, stating that the Wall Street Journal was merely recycling outdated information.
He firmly asserted that there is no substantial evidence indicating an ongoing investigation by the U.S. government concerning Tether, a leading player in the stablecoin market. The initial allegations had resulted in a minor downturn in Bitcoin's price, pushing it below the $66,000 threshold momentarily.
However, following Ardoino's clarifying statement, Bitcoin demonstrated significant resilience, regaining most of the value it lost during the dip. As per the recent data gleaned from CoinGecko, Bitcoin is currently trading at $67,460, showing a slight decrease of just 0.4% within the last 24 hours.
This recovery suggests a strong underlying sentiment among investors, underscoring their confidence in the cryptocurrency market despite fleeting moments of uncertainty..