An article published in February 2024 originally included paragraphs on Harborne and AML Global’s attempt to open an account at Signature Bank. However, a week before a lawsuit was filed, an editor’s note was added to remove the section. The note clarified that AML’s application was not part of any effort to mislead banks by Tether, Bitfinex, or related companies. It also stated that there was no implication that Harborne or AML falsified information during the application process. The removal was done to avoid any misunderstanding or false accusations against the individuals or companies involved.
This article originally appeared on www.coindesk.com
The Wall Street Journal has come under fire for alleged defamation over a recent article that linked Tether and Bitfinex to illegal activities. The article, published in early 2023, claimed that the two entities were involved in money laundering and other criminal activities.
Tether and Bitfinex have vehemently denied these allegations, stating that they are baseless and without merit. They have accused the Wall Street Journal of defamation and have threatened legal action against the publication.
The article in question has caused a stir in the cryptocurrency community, with many questioning the credibility of the allegations made by the Wall Street Journal. Some have accused the publication of spreading FUD (fear, uncertainty, and doubt) in order to damage Tether and Bitfinex’s reputation.
Tether, a stablecoin that is pegged to the US dollar, has been a controversial subject in the cryptocurrency world for years. Critics have accused the company of not having enough reserves to back up its token, which could lead to a collapse in the market if investors were to lose confidence in Tether.
Bitfinex, a cryptocurrency exchange that is closely linked to Tether, has also faced scrutiny in the past over its business practices. The company has been accused of market manipulation and insider trading, although these allegations have never been proven.
The Wall Street Journal has defended its reporting, stating that it stands by the accuracy of the article and that it is in the public interest to expose any wrongdoing in the cryptocurrency industry.
It remains to be seen how this legal battle will play out, but it is clear that tensions are running high between Tether, Bitfinex, and the Wall Street Journal. This case serves as a reminder of the power and influence that media outlets have in shaping public opinion and perception, particularly in the fast-paced and often murky world of cryptocurrency.
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