Bitcoin24h $95,652.78-1.46%

Ethereum24h $3,288.14-1.71%

XRP24h $2.22-0.08%

BNB24h $653.07-0.58%

Solana24h $180.04-0.55%

Dogecoin24h $0.3147-1.50%

Cardano24h $0.8888-1.00%

TRON24h $0.2459+1.20%

Avalanche24h $36.72-2.08%

Chainlink24h $22.04-0.72%

Chinese police arrest 21 in $55M Tether money laundering case

A group of Chinese suspects have confessed to operating a Tether (USDT) money laundering ring across the country, local news reports.

Do Chinese investors own the majority of ETH?

Ethereum has numerous links to China, including a director who built Chinese-language apps and a translation of its whitepaper into Mandarin.

Tether apparently bought nearly $50M worth of commercial paper from a subsidiary of Masraf Al Rayan, a bank fined $4M by the FCA.

Ethereum has close ties to China and throughout its history has encouraged Chinese developers, miners, and network participants.