The Wall Street Journal (WSJ) published an article on September 13th stating that Tether (USDT) is undermining America's efforts to combat arms dealers, sanctions violators, and fraudsters. In 2023, the amount of money flowing through the Tether network was nearly as much as that through Visa cards. Tether generated $62 billion in net profit for the year, surpassing asset management giant BlackRock ($5.5 billion in net income for common stock shareholders). However, Tether's workforce (less than 100 people) is a fraction of BlackRock's. The article points out that while Tether does vet the identities of its direct clients, its vast secondary market remains unregulated. According to a UN report in January this year, USDT is the "preferred" tool for money laundering in Southeast Asia.