Tether executives said to face criminal probe into bank fraud - Bloomberg News

A representation of the virtual cryptocurrency Ethereum is seen among representations of other cryptocurrencies in this picture illustration taken June 14, 2021. REUTERS/Edgar Su/Illustration

(Reuters) -The U.S. Department of Justice is probing whether executives behind the Tether digital token committed bank fraud during the nascent stages of its cryptocurrency business, Bloomberg News reported on Monday.

The probe is focusing on events from several years ago when Tether, a stablecoin launched in 2014, was in its early stages, the report said. (https://bloom.bg/3eWnraR)