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The U.S. Department of Justice is investigating Tether for a possible offense conducted years ago, Bloomberg reported Monday.

Executives from Tether are potentially facing a criminal probe into bank fraud, Bloomberg reported Monday.

The U.S. Department of Justice is investigating Tether for a possible offense conducted years ago, the outlet reported citing people with knowledge of the matter.
The price of bitcoin (BTC, +12.83%) dipped on the news, falling about $1,000 shortly after the report came out.
A request for comment was not immediately returned by Tether.
Tether, which administers USDT (-0.07%), the crypto market's largest stablecoin, has long been dogged by accusations of murky banking relationships.
Tether and its sister exchange Bitfinex settled an investigation by the New York Attorney General's Office (NYAG) into whether the stablecoin issuer was covering up the loss of nearly $1 billion in customer funds earlier this year.
In the settlement agreement, the NYAG said Tether used various banks, but was suspended from some, including Wells Fargo, for unspecified reasons.
Bloomberg previously reported in 2018 that the DOJ was investigating whether Tether and Bitfinex were pumping bitcoin's price.
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