Tether Under Fire Again! The Wall Street Journal’s Latest Allegations

The Wall Street Journal has once again leveled serious accusations at the stablecoin Tether, alleging involvement in a range of financial misconduct. This time, the publication reported that the U.S. Treasury Department is actively investigating Tether. It sparked market panic and caused a temporary dip in Bitcoin’s price. Paolo Ardoino, Tether's CTO, quickly provided evidence refuting these claims, helping to calm the market. But what about the reputation of the WSJ? Was it worth risking its reputation to repeatedly antagonize a single cryptocurrency? The same journalists frequently cover these stories—one wonders if there’s a department dedicated to critiquing Tether. 

The Wall Street Journal, to put it mildly, appears to have a long-standing aversion to Tether. If you review their articles over the years, you will see a rather one-sided picture: Tether undermines U.S. law and order by nullifying sanctions against international wrongdoers. According to their reports, Tether is a tool for villains, swindlers, and arms dealers, insinuating that it facilitates crime on a global scale. In their rhetoric, Tether has allegedly made it easier for groups like Hamas and notorious North Korean hackers to finance their operations. The coverage feels like a series of shocking claims, meant to scare the public with worst-case scenarios and spark fluctuations in Bitcoin’s price. This raises an interesting question: could these repeated allegations even border on market manipulation? Perhaps it’s too bold to throw around such accusations—but doesn’t the Wall Street Journal do the same?

To be clear, Tether may not be without its flaws – nobody is denying that. So such scrutiny isn’t inherently unwarranted. However, similar accusations could easily be directed at traditional banking systems and cash itself.

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