USDT issuer Tether has announced a new strategic investment in Crystal Intelligence to help combat illicit stablecoin use.
In a press release on 8 July, the company said the investment is a part of its broader compliance-focused infrastructure strategy.
Securing stablecoin use
Crystal Intelligence is a leading blockchain analytics firm providing advanced risk monitoring, fraud detection, and regulatory intelligence solutions.
According to Tether, the investment is a part of its coordinated efforts to combat illicit stablecoin use by supporting law enforcement and building a more secure and resilient digital asset ecosystem.
This strategic investment further reinforces the investigative tools used by enforcement agencies, regulators, and institutions worldwide.
Before now, the company has played a leading role in voluntarily supporting law enforcement officials and investigations into criminals abusing stablecoin technology.
Paolo Ardoino, CEO of Tether said:
“Tether is firmly committed to supporting law enforcement agencies in a shared effort to combat illicit activity. With the latest in advanced intelligence tools, like those being developed by Crystal Intelligence, we are enhancing our ability to assist authorities in tracing the movement of funds in real time.
The investment also builds on Tether and Crystal Intelligence’s ongoing work to enhance intelligence capabilities.
Together, both organizations have supported the development of Scam Alert, a platform that flags wallet addresses associated with scams and abusive activity in real time.
Through this, Tether has succeeded in freezing billions in unlawful funds and has supported investigations across dozens of jurisdictions.
Securing crypto’s future
The crypto industry is rapidly evolving, and so are criminal activities. This highlights the need to build trust and confidence in the industry.
CEO of Crystal Intelligence, Navin Gupta said Tether’s backing is both a validation of the work both companies have done together and shows commitment to future-proofing the industry through actionable insight, integrity, and innovation.
What do you think?
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