Howard Lutnick has defended the stablecoin company which has been used by gangs and US adversaries
In July, Howard Lutnick, the pugnacious boss of broker Cantor Fitzgerald, regaled an audience of crypto devotees in Nashville with tales of his early days exploring the world of digital currencies. “I met every criminal who’s now in prison,” the 63-year-old joked, referring to his encounters with various youthful crypto executives now serving lengthy jail sentences for fraud. “And then,” he said, “I met the people who owned Tether.
Criminals are “a large segment of the market is trying to hit, the same way there are all those sketchy banks who claim to do KYC”. Tether was the stablecoin most used for illicit activity globally last year, according to a report by TRM Labs, blockchain intelligence company and commercial partner of Tether, with an estimated $19.3bn worth of its trades — or 1.63 per cent of total transactions — used for illicit means.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cadillac F1 driver wishlist revealed as Aston Martin receive surprise offerTuesday's fast-paced F1 news is go, go, go!
Read more »
Donald Trump and Joe Biden's friendly White House encounter left everyone saying the same thingPress shout questions at President Biden and President-elect Donald Trump as they meet in the White House.
Read more »
Three Americans held for years in China released, White House saysMark Swidan, Kai Li and John Leung will be reunited with their families, the US administration said.
Read more »
Trump picks Karoline Leavitt as youngest-ever White House press secretaryShe has been a staunch defender of the President-elect since his first term in office
Read more »
It's becoming clear that Donald Trump never plans to leave the White HouseWill Trump’s face be chiselled alongside the legends of Mount Rushmore?
Read more »
Four-bedroom house with 'bags of potential' to go to auctionIt's 'crying out' for a refurbishment
Read more »