USDT
−0.0%Tether CEO says freezes cut Iran-linked stablecoin volume by 94%
Image: Crypto BriefingTether CEO Paolo Ardoino said Tether's address freezes cut Iran-linked stablecoin transaction volume by 94% since 2023. He said Tether froze relevant addresses an average of four weeks before OFAC and Israel's NBCTF sanctions designations. A Senate investigation examined Iran-linked wallets and found 84% transacted exclusively or almost exclusively in USDT. Ardoino's remarks responded to the Senate report, which raised questions about Tether's sanctions compliance.
Key points
- Ardoino said Tether froze relevant addresses an average of four weeks before OFAC and Israel's NBCTF sanctions designations.
- Tether can freeze USDT at designated blockchain addresses, stopping transfers involving targeted wallets.
Why it matters
USDT can be frozen at designated addresses, so issuer compliance actions can directly stop targeted wallets from moving funds. The Senate report and Tether's response show stablecoin sanctions controls are under scrutiny.
What's unclear
The 94% decline is Tether's own figure, and no independent measurement of that specific decline is given.
Tether says its freezes preceded sanctions designations, while the Senate report alleges inconsistent freezing of illicit wallets before 2024, the accounts remain unresolved.
Price context · USDT
At publication
$0.9992
Now
$0.9992
Change since
−0.01%
7 days · dashed line = publication
Sources · 2 publishers
Blockonomi
Tier 3
Tether CEO Challenges Senate Report With 94% Iran-Linked USDT Decline
Coverage timeline
- First reported by Crypto Briefing
- Also reported by Blockonomi
- CryptoVideos brief published
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