Tether treasury’s $60m transfer to whale sparks scrutiny

On Nov. 22, Lookonchain also reported significant Tether treasury transactions, revealing that Tether Treasury had recently minted an additional $1 billion. The tweet emphasized a noteworthy development, cautioning followers that this particular entity had accumulated a staggering 1.13 billion USDT from the Tether Treasury within the preceding 32 days.

These transactions continue to be flagged by web analysis tools due to the previous controversies the world’s largest stablecoin encountered, drawing scrutiny from critics who raise concerns about its transparency and financial stability.

Some developments, such as a legal settlement with the New York Attorney General (NYAG), have heightened suspicions, revealing instances where Tether was not fully backed at certain points in time.

Further intensifying the scrutiny, a Wall Street Journal investigation has shed light on allegations that Tether’s partners utilized counterfeit documentation to secure access to bank accounts, adding to the project’s challenges.

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