CandleFocus Tether-WSJ Fiasco Aftermath: Over $400 Million in Liquidations as BTC Dumped $3K in Minutes
2024-10-26
Author: Content Editor
In a controversial report, the Wall Street Journal claimed that the US federal government was investigating Tether, the company behind the world's largest stablecoin, for possible violations of anti-money laundering rules and sanctions. Tether's CEO immediately denied the claims, stating that there was no indication of an investigation. However, the news had a significant impact on the cryptocurrency market, causing Bitcoin to drop from $69,000 to $65,500, and total liquidations reaching $405 million. Altcoins were hit the hardest, with over $100 million in liquidations.
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