Tether, the platform at the back of the top stablecoin $USDT, has recently announced a new partnership with Crystal Intelligence, a prominent blockchain analytics platform. As a part of this collaboration, Tether is strategically investing in Crystal Intelligence to advance blockchain forensics as well as fight illegal stablecoin activity. The platform took to its official social media account on X to reveal this initiative.
Tether Makes Strategic Investment in Crystal Intelligence to Prevent Stablecoin Abuse
As a part of Tether’s partnership with Crystal Intelligence, the platform is making a strategic investment to improve forensics in the blockchain sector. In this respect, the investment underscores another factor of the coordinated endeavors of Tether to ward off illegal usage of stablecoins. Hence, the platform backs law enforcement in an effort to establish a relatively robust and secure digital asset network.
The reports highlight the drainage of more than $9.3B in crypto-focused scams within the U.S. just in 2024. The respective figure represents a staggering 66% spike from the year before it. In line with this, Tether continued its key role in bolstering law enforcement operations to stop the malicious actors from damaging the stablecoin technology. Thus, up till now, the stablecoin issuer has assisted over 255 agencies enforcing law across 55 jurisdictions. Additionally, it has effectively frozen more than $2.7B linked to illegal activity.
Apart from that, Tether’s latest investment in Crystal Intelligence aims to advance investigative instruments that the enforcement organizations, institutions, and regulators use. While discussing this development, Paolo Ardoino (the CEO of Tether) expressed the company’s commitment to assist law enforcers in an effort to battle illegal activity. The executive added that the cutting-edge tools of Crystal Intelligence increase the capabilities to enable authorities to track the fund movement.
Boosting Worldwide Enforcement Cooperation and Expansion of Overall Digital Asset Network
According to Tether, with its exclusive strategic investment in Crystal Intelligence, it focuses on complementing the wider compliance-centered infrastructure strategy thereof. Along with that, Tether’s recent efforts take into account the incorporation of institutional-level monitoring to guarantee the issuance and maintenance of tokenized real-world assets (RWAs) with regulatory alignment and transparency.
Moreover, Tether’s latest move underscores its focus on proactively preventing crime while also driving worldwide enforcement cooperation along with responsible expansion of the broader digital asset network.
