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Circle suspended Heka Funds after Tether investment scrutiny
Regulatory filings reviewed by The Block show Circle learned Tether had invested $800 million in the arbitrage fund before suspending Heka Funds.
Circle suspended Heka Funds, a Tether-backed fund, after concerns about suspected market manipulation, according to arbitration filings reviewed by The Block.
The Block reports that Circle learned Tether had invested $800 million in the arbitrage fund, a detail that factored into the suspension decision.
The filings also describe the fund as tied to a Tether-backed structure, with Circle acting once it became aware of the investment and the associated conduct concerns.
The Block said the dispute is reflected in arbitration filings linked to Circle and the suspended fund.