On September 13th, the Wall Street Journal published an article stating that Tether (USDT) is undermining the U.S. fight against arms dealers, sanctions violators, and fraudsters. In 2023, funds flowing through the Tether network were almost as much as those flowing through Visa cards. Tether's net profit for the year reached $6.2 billion, surpassing asset management giant BlackRock (net income to common shareholders of $5.5 billion). However, Tether's staff (less than 100 people) is a tiny fraction of BlackRock's.

The Wall Street Journal pointed out that while Tether does conduct due diligence on its direct clients, its vast secondary market remains unregulated. According to a United Nations report released in January, USDT is the "currency of choice" for money laundering in Southeast Asia. Tether can track every transaction on the public blockchain ledger and can freeze and destroy USDT in any wallet.