Tether Invests in Crystal Intelligence to Boost Anti-Crime Efforts

Tether, the issuer of the world’s largest stablecoin USDT, has made a strategic investment in blockchain analytics firm Crystal Intelligence. This move is aimed at enhancing Tether's ability to combat crypto-related crime, particularly the illicit use of its USDT stablecoin. The investment provides Tether with direct access to Crystal’s suite of tools for real-time risk monitoring, fraud detection, and regulatory intelligence. This enhancement will bolster Tether’s capacity to assist global law enforcement in tracking suspicious activities.

Crypto-related scams and fraud have seen a significant surge in recent years. In 2024, the FBI's Internet Crime Complaint Center reported $9.3 billion in losses tied to digital asset fraud, marking a 66% increase from the previous year. This alarming trend underscores the urgent need for more robust measures to curb illicit activities in the crypto space. Tether's investment in Crystal Intelligence is a proactive step towards addressing this growing concern.

Tether has already demonstrated its commitment to fighting crypto crime. The company has assisted law enforcement agencies in seizing $225 million worth of USDT stolen through romance-investment scams. Additionally, Tether has collaborated with over 255 law enforcement agencies across 55 jurisdictions and has frozen more than $2.7 billion worth of stablecoins linked to criminal activity. This investment in Crystal Intelligence will further strengthen Tether's capabilities in this area.

Tether CEO Paolo Ardoino emphasized the significance of this investment, stating, "This strategic investment will strengthen our capacity to collaborate more effectively and reinforce a clear message: misuse USDT, and law enforcement will find you." This statement underscores Tether's commitment to ensuring the integrity of its stablecoin and its dedication to combating crypto crime.

Crystal Intelligence has previously worked with Tether to develop Scam Alert, a public database that flags wallet addresses tied to scams. This collaboration has already proven effective in identifying and mitigating fraudulent activities. With the new investment, Tether aims to further enhance its ability to detect and prevent illicit use of its stablecoin, thereby protecting its users and the broader crypto community.