Cryptocurrencies saw a significant decrease in value after news broke about a U.S. investigation into Tether Holdings Ltd., the company behind the popular Tether stablecoin.
The investigation is reportedly focused on potential violations of sanctions and anti-money laundering regulations. Following this news, the value of Tether's USDT token, which is meant to be equivalent to one U.S. dollar, dropped to around 99.81 cents.
This development has raised concerns among investors and traders in the digital asset market, highlighting the ongoing scrutiny of stablecoin operations by regulatory authorities.