Let's kick off with some good old fashioned tether FUD. On Friday, The Wall Street Journal reported that tether had used falsified documents and shell companies to obtain bank accounts, citing emails leaked to the newspaper they discussed some of the tactics used by tether and their intermediaries back in 2018. The article claimed that an email from Stephen Moore, one of the owners of tether holdings limited, said that a major Chinese counterparty was trying to quote circumvent the banking system by providing fake sales invoices and contracts for each deposit and withdrawal. He wrote that it was too risky to continue with this method, considering his signature was on the fake invoices, and recommended that the counterparty abandoned its attempts to open the account, saying quote, I would not want to argue any of the above in a potential fraud slash money laundering case. In March 17, according to The Wall Street Journal, Wells Fargo stopped processing transaction from several Taiwanese accounts that tether had been using, and in a lawsuit filed against the bank, tether called the move quote, an existential threat to their business, but withdrew the lawsuit shortly thereafter. A few weeks later on a conference call with users, Phil Potter, tethers then chief strategy officer attempted to calm concerns, saying quote, we've had banking hiccups in the past. We've always been able to route around it or deal with it, open up new accounts or what have you. There's been lots of sort of cat and mouse tricks that everyone in the Bitcoin industry has to avail themselves of. The article also claims that another account opened up on behalf of tether in turkey was later used to funnel money to a Hamas linked terror organization. And on top of that, the article also chronicles an attempt to funnel money through Panama using a company called the crypto capital corporation. The company allegedly used a series of shell companies to move around more than $1 billion. In October 2018, around 850 million was seized by authorities in the U.S. and Europe during an investigation into bank fraud and alleged money laundering. The seizure caused ripples through the crypto ecosystem with tether losing its peg and making a loan to bitfinex its sister exchange to shore up tether's balance sheet. But for next claims to this day that it was defrauded by crypto capital corp and is still fighting the seizures.