Tether Touts $550M Freeze Amid Senate Investigation
Tether, the issuer of the popular stablecoin USDT, claims it has helped authorities freeze nearly $550 million in Iran-linked USDT since 2026. The company made this statement as part of its response to a Democratic-led Senate investigation into potential sanctions violations involving the stablecoin.
The investigation, led by Senator Richard Blumenthal, found that 84% of 846 crypto wallets sanctioned for ties to Iran had transacted exclusively or nearly exclusively in USDT. This finding has raised concerns about the role of USDT in sanction evasion and its potential impact on global financial stability.
Tether's CEO, Paolo Ardoino, emphasized that the company has been working closely with international law enforcement agencies to identify and freeze illicit funds. According to Tether, this cooperation has resulted in more than $4.9 billion in assets being frozen globally since 2026.