Senate Scrutiny Targets Tether Over Iran-Linked Risks

A new investigation by the U.S. Senate Permanent Subcommittee on Investigations has raised concerns about Tether's (USDT) role in Iran's shadow banking network.

The probe found that 84% of the 846 Iran-linked wallets reviewed transacted almost exclusively in USDT, with a subset of 757 wallets showing 87% USDT use.

Tether has claimed to have helped freeze around $550 million in Iran-linked USDT this year, but the Senate's findings have put the stablecoin under scrutiny.