Conduit Sues Tether Over $2.76 Million in Frozen USDT

Payments firm Conduit has filed a lawsuit against Tether, seeking a court order to restore access to its treasury wallet. The dispute centers around $2.76 million in frozen USDT, which Conduit claims has disrupted its operations and slowed client settlements. The company argues that the loss of working capital is affecting its ability to conduct business as usual.

The lawsuit highlights the challenges faced by businesses relying on stablecoins like USDT. Freezing assets can have immediate and significant impacts on liquidity and operational efficiency. Conduit is seeking legal redress to resolve the issue and regain control of its funds.