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Tether CEO Paolo Ardoino Denies Rumors That Stablecoin Issuer Is Under Federal Investigation
Published
3 hours agoon
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adminPaolo Ardoino, the CEO of stablecoin issuer Tether, is squashing rumors that his firm is being probed by federal agencies.
In a post on the social media platform X, Ardoino addresses a Wall Street Journal (WSJ) report, which claims that authorities are investigating Tether for potential violations of anti-money laundering and sanctions laws.
The WSJ reports that the Manhattan U.S. Attorney’s Office is looking into whether Tether’s USDT has been used by bad actors to fund illegal activities or launder the proceeds generated by the criminal acts.
The report also claims that the Treasury Department is looking at possibly sanctioning Tether for the “widespread use” of USDT among entities sanctioned by the US.
In response, Ardoino says the WSJ is merely recycling long-played-out narratives.
“As we told the WSJ, there is no indication that Tether is under investigation. WSJ is regurgitating old noise. Full stop.”
Ardoino also highlights that Tether has been routinely cooperating with US authorities to prevent bad actors from using USDT to fund illicit activities.
“At Tether, we deal regularly and directly with law enforcement officials to help prevent rogue nations, terrorists and criminals from misusing USDT.
We would know if we are being investigated as the article falsely claimed. Based on that, we can confirm that the allegations in the article are unequivocally false.”
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WUFFI and KLAUS pump nearly 50% as global crypto market cap drops over 1.4%
Published
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October 27, 2024By
adminAmidst the bearish crypto market conditions, Wuffi emerges as the top gainer with a 50% surge in the last 24 hours.
The overall crypto market cap nosedived by almost 1.4% in the last 24 hours. As per CoinGecko, the global crypto market cap stands at $2.38 billion at press time.
Bitcoin (BTC) and Ethereum (ETH) are showing no signs of movement in this timeframe. Bitcoin is down by over 2.1% in the last seven days, and Ethereum is down by almost 7% during this period.
However, amidst this bearish outlook, few meme coins are outpacing the overall market conditions. One notable meme coin called Wuffi (WUF) has surged by over 50% in the last 24 hours, earning the top gainer spot on CoinGecko.
WUFFI jumps 50% as team burns 317 billion WUF
WUFFI has reached a market cap of $103 million, as the coin has surged from a 24 hour low of $0.00000008106 to as high as $0.0000001233.
The coin is trading in the green territory when it comes to its price performance in the last 30 days with its 130% surge.
One of the most logical reasons for this pump is the latest initiative by the WUFFI team. The team has recently burned a total of 317 billion WUF.
The project’s X account has closed to 700k community members who have likely noticed this initiative. This decision has likely ended up being positive, which is evidenced by its recent pump.
KLAUS and STFC pump close to 50%
A meme coin called Klaus (KLAUS) has earned the position of the second-largest gainer on CoinGecko. The coin has surged by almost 49%, hitting the price level of $0.0269.
Klaus has a low market cap of $26.7 million. The exact reason for the surge in Klaus’ price is unclear.
However, their team had announced that they hit 6,000 Klaus holders yesterday.
STFX is moving right behind KLAUS with its 46% pump. The coin has surged from a 24-hour low of $0.02884 to a high of $0.04254.
The coin is also up by over 580% in the last 30 days. The project had announced that they are officially moving to Solana (SOL) soon. In addition, they mentioned that they are in the final stages of a full rebuild of their dApp.
STFX stated that they are seeing exponential growth happening on Solana, which is the primary reason for their transition.
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Chainlink (LINK) Extends Run As Top ERC-20 Project in Terms of Development Activity: Santiment
Published
19 hours agoon
October 27, 2024By
adminThe decentralized oracle network Chainlink (LINK) is once again the top-ranked ERC-20 project in terms of recent development activity, according to the crypto analytics platform Santiment.
Santiment notes on the social media platform X that Chainlink registered 649.03 notable GitHub events in the past 30 days, nearly double the number of the second-ranked project, Ethereum (ETH), which clocked 342.2.
The decentralized oracle project also topped the list in June, July and September.
The web3 project Status (SNT) ranked third in the past 30 days, registering 270.57 events. Status aims to offer users a secure messaging app, crypto wallet and web3 browser via an open-source, peer-to-peer protocol and end-to-end encryption.
An ERC-20 project is a standard that developers use to issue tokens on the Ethereum blockchain and virtual machine.
Santiment notes that it doesn’t count routine updates and utilizes a “better methodology” to collect data for GitHub events based on a “backtested process.”
The analytics firm has previously said that heavy development activity centered around a crypto project indicates developers believe in the protocol. Development activity also suggests that the project is less likely to be an exit scam.
LINK is trading at $11.11 at time of writing. The 18th-ranked crypto asset by market cap is down more than 6% in the past 24 hours.
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