On March 3,  the Wall Street Journal reported Tether, the issuer of the world’s largest stablecoin by market capitalization USDT, utilized fake documents and shell corporations to obtain banking access during a period when they were encountering obstacles in accessing the international banking system.

According to the report, WSJ states that a cache of emails and files revealed that both Tether and its sister business Bitfinex frequently masked their true identities by operating under the guise of other companies or individuals.

Though Tether did not address the specific claims in the report, it responded to the allegations in general by claiming "the Wall Street Journal’s report about stale allegations from long ago is wholly inaccurate and misleading" in an announcement.

"Bitfinex and Tether have world-class compliance programs and adhere to applicable Anti-Money Laundering, Know Your Customer, and Counter-Terrorist Financing legal requirements." Tether added.

Paolo Ardoino, CTO of Tether, also commented this matter on Twitter. He described WSJ report as "clown honks" with  "ton of misinformation and inaccuracies" as always.