Tether Freezes Billions in Assets Linked to Sanctions Evasion

Tether, the issuer of the USDT stablecoin, has cooperated with global authorities to freeze over $4.9 billion in assets tied to sanctions evasion and other illicit activities.

In a statement on Monday, Tether CEO Paolo Ardoino said that the company has consistently demonstrated its commitment to preventing sanctioned actors from using USDT for nefarious purposes.

Ardoino highlighted that Tether's cooperation with authorities has resulted in the freezing of assets worth more than $4.9 billion, including over $2.4 billion connected to U.S. agencies.

The disclosure comes as a U.S. Senate investigation alleges that USDT has become a major channel for sanctions evasion tied to Iran.