Tether, who was always based off-shore, did indeed have links to the U.S. banking system.
In order to pay for USDT, Tether instructed customers to send money via Signet to Bahamas-based Capital Union Bank Ltd., one of the banks tied to the company, along with Deltec Bank & Trust Ltd. and Cantor Fitzgerald Ltd.
“Banks used by Tether always had access to several banking channels and counterparties. This enabled us to identify particular risks and weaknesses that others had missed, ensuring our entities wouldn’t be affected by either direct or indirect exposure to Signature.”No Accusations of Wrongdoing
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