In a move to bolster security, Tether has strategically invested in Crystal Intelligence, a blockchain analytics firm. This partnership, announced on July 9, 2024, aims to enhance Tether's efforts against illicit stablecoin use. The collaboration includes the development of platforms like Scam Alert for real-time scam detection. (Source: Tether.io, en.cryptonomist.ch)
The FBI reported over $9.3 billion in crypto-related scam losses in the U.S. in 2024, a 66% increase. Tether has assisted in freezing over $2.7 billion in USDT linked to illicit activities across 55 jurisdictions. This investment aligns with Tether's broader compliance strategy, focusing on proactive crime prevention. (Source: Tether.io)
The U.S. Department of Justice (DOJ) acknowledged Tether's assistance in seizing approximately $225 million in USDT tied to a "pig butchering" scam. Tether is expanding its role in compliance, positioning itself as a trusted stablecoin issuer. This partnership is crucial for a more secure digital asset ecosystem. (Source: Tether.io)