According to a report from Bloomberg, the popular stablecoin issuer Tether executives are facing a criminal investigation by the U.S. Department of Justice (DOJ) regarding bank fraud. 

The source said DOJ will investigate whether Tether has misled banks in its crypto business. It may be traced back to Tether's business a few years ago.

This is a case for potential criminal cases that may have a wide-ranging impact on the cryptocurrency market, Tether said it will cooperate with law enforcement agencies.

By Mary Liu