Tether, the world's biggest stablecoin issuer, was a client of Signature Bank's widely used Signet payment network, Bloomberg reported.
Tether Chief Technology Officer Paolo Ardoino, in response to the article, tweeted that Tether "didn't have any direct or indirect exposure to Signature."
Signet, which started in 2019 as a real-time payments platform and was an important technology for many institutional crypto clients, including exchanges Coinbase and Kraken, continues to operate even after regulators shut down the bank.
CORRECTION (April 6, 2023, 17:15 UTC): After Bloomberg corrected their story, this story has been updated to say that Tether was a user of Signature Bank's Signet.
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