Swan CEO claims Twenty One serves Tether’s US political interests, calls Mallers’ role ‘ceremonial’

Cory Klippsten, CEO of Swan, has accused Twenty One Capital, a U.S. affiliate of Tether, of serving the cryptocurrency stablecoin's political interests in the United States. Klippsten claims that Twenty One Capital is used to channel funds for political purposes, implying a lack of transparency in the organization's operations. He also described the role of Mallers, a key figure in Twenty One Capital, as largely ceremonial, suggesting that their influence may be overstated. This controversy highlights ongoing concerns about Tether's regulatory compliance and the broader implications for the cryptocurrency industry's relationship with U.S. politics.