- Tether invests in Crystal Intelligence to fight stablecoin misuse and crypto crime.
- Scam Alert flags scam wallets, helping police freeze billions in USDT.
- Tether and Crystal pledge trust, safety, stronger protections for stablecoin industry.
Tether has announced a new step to make the crypto world safer. It has made a strategic investment in Crystal Intelligence, a blockchain analytics company. Such a step will prevent the abuse of stablecoins such as USDT.
Tether Invests to Help Police Track $2.7B in Illicit Funds
In the past, Tether and Crystal Intelligence collaborated. They have developed Scam Alert, a site that marks wallet addresses associated with a scam or otherwise. This assists individuals and the police to understand which wallets they should not use.
The new investment is an element of the larger strategy of Tether. The firm does not want its stablecoin to assist criminals. Rather, it desires USDT to remain secure and reliable among the global population.
The FBI stated that crypto frauds are increasing rapidly. In 2024, the crypto scam cost Americans more than 9.3 billion dollars. This was a tremendous rise of 66% over the previous year. Since scams are on the increase, Tether claims that it needs to do something before it is too late.
Tether has so far done a lot to assist the police. The company has partnered with over 255 law enforcement agencies in 55 countries. These also include large agencies such as the U.S. Secret Service and the FBI. Collectively, they have frozen over 2.7 billion USDT of crime-related USDT.
With this investment into Crystal Intelligence, Tether will provide police and regulators with additional tools. These are the tools which assist in tracing stolen or illegal funds in real time. This means that bad actors have reduced venues to hide.
According to the CEO of Tether, Paolo Ardoino, this is in their commitment to assist law enforcement. He added that the new equipment will facilitate easier arrest of the criminals. Ardoino argues that Tether already froze billions of dollars worth of illegal money. He thinks that this new step will enable them to do even more.
Tether Expands Security Tools to Keep Stablecoins Safe
Crystal Intelligence’s CEO, Navin Gupta, said the crypto industry must build trust. He informed that most companies wait to get new rules. Crystal prefers to take an initiative to prevent threats, however. Gupta stated that Tether is in support indicating that they both have same agenda defending people and the industry.
This is not the only investment that is occurring. Tether has other developments to make crypto secure. An example of this is that it employs high-quality monitoring tools. These tools ensure that assets are tokenized and adhere to rules and are transparent.
Through the increase in the size of scams, crypto companies are under pressure to demonstrate their concern about safety. Tether claims that it is trying to run a good example. It desires to demonstrate that stablecoins can be of assistance to individuals and not robbers.
With this new collaboration, Tether, as well as Crystal Intelligence, will make the digital asset world, more powerful, and secure. They are interested in assisting law enforcement to apprehend criminals quicker. They also desire to make people feel even confident when using crypto.
In conclusion, such an investment demonstrates the desire of Tether to combat crime. It is also illustrative that collaboration will make the industry safer to all. Since crypto continues to evolve, enterprises such as Tether and Crystal are feeling that even smart moves now will safeguard users in the future.
