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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.

Hong Kong crypto scam victim lost $128K after visiting fake shop

The victim says she was handed a bundle of fake notes in return for $128k in tether while the shop’s ‘owner’ fled through a back door.

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

Documents obtained by CoinDesk and Bloomberg shed additional light on Tether reserves, showing the issuers of its commercial paper.

Tether is following in the footsteps of Bitfinex operator iFinex, which has previously invested in bitcoin mining efforts led by Blockstream.