US Senator Wants Crypto’s “Bad Boys” to Face the Music

US Senator Urges DOJ to Pursue Criminal Charges Against Binance and Tether

US Senator urges DOJ to criminally charge Binance and Tether.

In a surprising turn of events, US Senator Cynthia Lummis is calling for some serious action against crypto exchange Binance and stablecoin issuer Tether. And no, it’s not because they’re stealing people’s lunch money or cutting in line at the amusement park. Senator Lummis believes these two companies have been up to some shady business, allegedly aiding illicit fundraising for none other than good old terror organizations.

Yes, you heard that right. The Department of Justice (DOJ) is being told to put on their detective hats, finish their investigation, and seriously consider slapping some criminal charges on these crypto miscreants. Senator Lummis even went so far as to send a letter to the DOJ, demanding they charge Binance and Tether for being “intermediaries” in reported illicit financing activities of none other than drumroll Hamas!

The allegations were brought to light by a recent Wall Street Journal report, which claimed that Hamas had managed to raise millions of dollars in crypto funding before launching their attacks on Israel. Talk about a high-tech terror operation! But hold your horses, folks. Blockchain analytics firm Elliptic is here to spoil the party. They’re saying that the data has been gasp misinterpreted.

According to Elliptic, there is absolutely no evidence to suggest that crypto fundraising resulted in the jaw-dropping $130 million figure mentioned in the Wall Street Journal article. It seems like someone got a little too excited with their calculations. Oops!

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But wait, there’s more. Tether, the stablecoin issuer in question, has come forward to defend its good name. They claim that they’ve been cooperating with law enforcement, freezing funds suspected of being used for illicit activities. Tether wants the mainstream media to get their facts straight and stop spreading misinformation about the use of crypto in terrorism financing. CEO Paolo Ardoino, in his most serious voice, denounces the deceitful article published by the WSJ and calls for a good old-fashioned fact-checking.

So, what do the experts have to say about all this? Well, Nic Carter, a partner at Castle Island Ventures, believes that crypto needs to stand up for itself in the face of these regulatory developments. It’s time to show the world that crypto is more than just the “bad boy” of the financial world. And Brian Armstrong, the co-founder and CEO of Coinbase, well, he’s pretty sure that the WSJ needs to issue a retraction or correction if they want to get things right.

Alright, folks, it looks like the crypto drama continues. Will Binance and Tether be able to clear their names? Will Elliptic save the day with their impeccable blockchain analysis? Only time will tell. But one thing’s for sure, the crypto world just keeps getting more interesting by the minute. Stay tuned!

Hey, readers! What do you think about Senator Lummis taking aim at Binance and Tether? Are they the “bad boys” of the crypto world, or is this all just a big misunderstanding? Let us know your thoughts in the comments below!

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