Tether Announces Strategic Investment in Blockchain Analytics Firm Crystal Intelligence

Tether has announced a strategic investment in blockchain analytics firm Crystal Intelligence to enhance its risk monitoring, fraud detection, and regulatory compliance capabilities, and to combat stablecoin abuse. Tether stated that it has assisted over 255 law enforcement agencies in 55 jurisdictions worldwide in freezing over $2.7 billion in illicit funds. The two companies previously jointly supported the development of the Scam Alert platform, which allows the public to query and flag wallet addresses associated with scams or malicious activity in real time. [Wu Shuo]