Report: US Officials Are Probing Tether Role in Bitcoin Market Manipulation

The U.S. Department of Justice (DOJ) is increasingly focusing a months-long investigation into crypto market manipulation on the tether stablecoin, a report says.

Citing individuals familiar with the probe, Bloomberg reported Tuesday that the DOJ is looking into whether crypto exchange Bitfinex and Tether Ltd. have pushed bitcoin‘s price up using the stablecoin. Specific details of the investigation were not shared, and no accusations of wrongdoing have yet been made.

However, concerns about tether have long existed in the public sphere, with researchers at the University of Austin publishing a study this summer linking the stablecoin’s issuance with bitcoin’s 2017 price pumps.

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