Tether Freezes $39M Linked to Sanctioned Xinbi Network

Tether has frozen $39.27 million in USDT linked to Xinbi Guarantee, according to blockchain analytics firm MistTrack.

The freeze came after Tether's CEO Paolo Ardoino stated that the company will act immediately when it identifies a credible link with sanctioned entities or criminal networks.

This is not the first time Tether has cracked down on addresses linked to alleged illicit activities, having blacklisted 376 addresses and frozen $169.71 million USDT in the past 30 days alone.

USDT remains the largest stablecoin, holding around 60% of the market with a circulating supply of $183.4 billion, despite relatively modest recent growth.