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<p style="text-align: justify">There has been a topic that has been occupying the agenda for the past 2 days. American politicians, in their race for propaganda, have now targeted cryptocurrencies. Politicians who want to show more support to Israel are claiming that cryptocurrencies are widely used for financing terrorism, based on the WSJ report that relies on false data.</p>
<h2 style="text-align: justify" id="tether-news">Tether News</h2>
<p style="text-align: justify">Today, 2 Republicans wrote a letter to the Department of Justice to file a lawsuit against <strong><a href="https://en.coin-turk.com/israeli-police-freezes-crypto-accounts-associated-with-hamas/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a></strong> and <strong>Tether</strong>. Let’s look into the details and see what the company behind the world’s largest stablecoin, which denies these allegations, has to say.</p>
<blockquote>
 <p style="text-align: justify">“We are aware of the recent statements surrounding the potential misuse of cryptocurrencies, particularly with reference to Tether, for illicit activities. We believe in direct and transparent communication, and therefore find it necessary to address these concerns openly.”</p>
</blockquote>
<p style="text-align: justify"><img decoding="async" class="size-full wp-image-270726 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/10/Tether-Dava-Mektubu.png" alt="" width="1043" height="410"></p>
<h3 style="text-align: justify" id="misinformation">Misinformation</h3>
<p style="text-align: justify">Firstly, Tether reiterates that the figures in the WSJ report are incorrect. Independent research conducted by both Chainalysis and Elliptic, including reports published by the Wall Street Journal (WSJ), shows that most of these reports, including the ones published by WSJ, are flawed.</p>
<blockquote>
 <p style="text-align: justify">“It is crucial to understand that inaccurate information not only fuels baseless concerns but also paints an unfair and distorted picture of Tether and the industry as a whole. Despite being made aware of the significant disparity between the reported figures and the actual figures, WSJ does not seem to have retracted the article. Since October 7th, the reports have found that only $21,000 has been transferred to Gaza Now, the most popular public cryptocurrency donation campaign. In contrast, <a href="https://en.coin-turk.com/cryptocurrency-market-summary-how-did-bitcoin-and-altcoins-start-the-day/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto</a> Aid Israel received over $185,000 in cryptocurrency donations for humanitarian purposes by October 19th. Recent reports published by Elliptic and Chainalysis suggest that the figures stated in the recent article by WSJ, regarding the financing of Hamas operations through cryptocurrencies, are significantly incorrect due to flawed attribution techniques.”</p>
</blockquote>
<h3 style="text-align: justify" id="did-tether-commit-a-crime">Did Tether Commit a Crime?</h3>
<p style="text-align: justify">If there is a crime, there should also be evidence to prove it. Tether stated in its recent announcement that there is no evidence showing that it has violated Sanctions Laws or the Bank Secrecy Act. On the other hand, the US, which has imposed sanctions on countries such as Iran, Venezuela, or Russia due to political disputes, is successfully implementing this in the crypto field as well.</p>
<p style="text-align: justify">Considering the power and philosophy of cryptocurrency, aside from the fragmentation caused by global embargoes, these politicians should know best that crypto companies comply with US regulations. Even the validators of Ethereum support and comply with OFAC censorship.</p>
<p style="text-align: justify">Tether, stating that they have helped law enforcement agencies so far, wrote the following:</p>
<blockquote>
 <p style="text-align: justify">“We have proactively cooperated with 31 law enforcement agencies in 19 jurisdictions to prevent malicious activities. Since its inception, our active measures have resulted in the freezing of a total of $835 million worth of assets associated with illegal activities, including the hacking of crypto exchanges and DeFi platforms. Specifically addressing concerns related to the Middle East, we have frozen 32 addresses associated with illegal activities in coordination with NBCTF in Israel, securing a total of $873,118.”</p>
</blockquote> Continue Reading: <a href="https://en.coin-turk.com/the-controversy-surrounding-tether-misinformation-and-allegations/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/the-controversy-surrounding-tether-misinformation-and-allegations/</a>

The Controversy Surrounding Tether: Misinformation and Allegations

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