Senate Scrutiny of Tether Raises Questions About USDT's Role in Sanctions Evasion

A Senate investigation has placed Tether under scrutiny for its role in Iran's shadow banking network. The report found that 84% of wallets tied to sanctioned activities used USDT almost exclusively.

Tether disputes the findings, claiming it has helped freeze over $550 million in Iran-linked USDT this year.

The investigation also highlighted Tether's connections to the Trump administration, including its custodian Cantor Fitzgerald, which was previously led by Commerce Secretary Howard Lutnick.