Let the stablecoin regulation begin - USDT Tether said to be under criminal probe in the US

Not good news for the stablecoin. Perhaps good news for USDC, another competitor stablecoin run out of the US and *also backed 1:1 by USD.

*Tether/Bitfinex has claimed it is backed 1:1, but recent disclosures have brought to light that the “funds” aren’t as liquid as previous thought or claimed.