Tether Controversy: WSJ Parent Company Faces Legal Battle Over Defamation

    WSJ's parent company faces legal repercussions as AML Global Ltd., a Tether stakeholder, sues over defamation. Explore the controversy surrounding Tether, Bitfinex, and alleged financial misconduct in this insightful article.

    • Wall Street Journal’s investigative article on Tether and Bitfinex leads to a controversial legal battle.
    • Allegations of shady financial practices and connections to international banking systems by iFinex and related entities.
    • AML Global Ltd., a minority stakeholder in Tether, sues WSJ’s parent firm for defamation over false accusations of fraud, money laundering, and financing terrorism.
    • The Wall Street Journal removes the section implicating AML Global and Christopher Harborne from the controversial article.

    The Tether Investigation: Unveiling Alleged Shady Practices

    In a spring expose, the Wall Street Journal delved into the intricacies of Tether, Bitfinex, and associated entities, shedding light on their controversial financial practices. The investigative article accused these crypto-related companies, predominantly owned by iFinex, of employing questionable methods to maintain connections with the international banking system. The entities allegedly opened accounts under reputable businessmen’s names, changing company titles for optics, a move that drew scrutiny.

    AML Global Ltd. Strikes Back: Legal Battle Unfolds

    One of the companies implicated in the article was AML Global Ltd., owned by British businessman Christopher Harborne, holding nearly 13% of Tether. Harborne took legal action against Dow Jones & Company, the parent firm of the Wall Street Journal, in Delaware. The lawsuit accused the Journal of defamation, asserting false accusations of fraud, money laundering, and financing terrorism. Harborne, denying executive involvement and illicit activities, highlighted the acquisition of the stake through a Bitfinex reimbursement plan after a hacking incident in the company’s early days. The Wall Street Journal responded by removing the section of the article related to AML Global and Harborne, acknowledging the lack of substantiating evidence.

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