Crypto Report: Tether Bank Probe Gets Fresh Look

The DOJ is investigating Tether, the third-largest cryptocurrency, for potential bank fraud violations. Tether, a stablecoin, is crucial in the crypto market as it is pegged to the US dollar, providing stability. The investigation focuses on Tether's financial statements and transactions with banks. Tether has faced regulatory scrutiny from other agencies like the CFTC. The DOJ's decision on whether to pursue charges remains pending, with Tether seeking declination letters to avoid prosecution.

What is the significance of Tether's market value and its role in trading?

What are declination letters in the context of the DOJ's investigation?