On January 2nd, the joint effort known as the T3 Financial Crime Unit (T3 FCU), comprising Tether, Tron, and TRM Labs, declared they achieved a notable advancement in their battle against illicit activities linked to digital currencies.
In a declaration made recently, the entity, which was deployed in August 2024, has collaborated extensively with international law enforcement departments to effectively address cases related to money laundering, investment scams, extortion schemes, terrorist funding, and other significant financial offenses.
Freezing Criminal Assets
Through collaborative efforts with regulatory bodies in various regions, Tether’s role has proven crucial in seizing ill-gotten funds and preventing unscrupulous individuals from misusing stablecoins such as USDT, according to Paolo Ardoino, the CEO of Tether.
Justin Sun, creator of the TRON network, stated that potential criminals now possess a strong motivation to reconsider their actions, as they now face a significant 100 million reasons associated with TRON.
The swift achievement by T3 FCU in seizing criminal funds stored as USDT on the TRON network underscores a clear warning: engaging in illicit activities with USDT on TRON carries a high risk of detection.
The T3 Financial Crimes Squad Announces Successful Legal Triumph: Over $100 Million of Illicit Funds Locked Down Globally, Spanning Five Different Regions. (For further details, please see the linked article.)
— Tether (@Tether_to) January 2, 2025
In my role as an analyst, I’ve had the opportunity to delve into and scrutinize countless financial transactions, spanning no less than five continents. This analysis encompasses a staggering 3 billion dollars’ worth of USDT transactions, as per our recent announcement.
According to Chris Janczewski, who leads global investigations at TRM Labs, exceeding $100 million in confiscated USDT is merely the starting point.
Moving forward into 2025 and beyond, as an increasing number of legitimate users join the expanding crypto world, ensuring its safety becomes increasingly crucial. That’s exactly what T3 stands for – a commitment to this vital mission.
Are Tether’s EU Woes About to Deepen?
As a researcher, I’ve noticed an interesting development in the market capitalization of Tether. For the first time since late 2022, it has begun to decrease. From its peak of approximately $140 billion in mid-December, it has dipped by a significant 3 billion USDT. This downward trend is intriguing and warrants further investigation.
The decrease in supply could potentially stem from escalating apprehensions in Europe, as the activation of their stringent Markets in Crypto-Assets (MiCA) rules has created doubt regarding Tether’s (USDT) standing on trading platforms within the European Union.
Due to the enactment of MiCA regulation in Europe on December 30, there’s a degree of ambiguity about the future of stablecoin providers like Tether, because it remains unclear if their USDT token meets the compliance standards.
Yet, Ardoino previously brushed off the worries as unfounded rumors (FUD), following the company’s recent purchase of $700 million in Bitcoin for its reserves. “Disregard the rumors,” he stated, further commenting, “The competitors are simply trying to mislead you with things that aren’t real.
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2025-01-06 01:06