Two Thai businessmen have sued Tether after the stablecoin issuer froze $42.4 million of their USDT in October 2025, months before any court warrant was issued. The freeze was linked to an investigation into crypto fraud, but the plaintiffs claim they were not involved and had no prior notice. They seek to lift the blacklist, recover damages, and prevent Tether from burning or reissuing the frozen tokens while the case proceeds. The case highlights legal challenges around Tether's unilateral power to freeze funds using its smart contract's centralized control.
Two Thai businessmen filed a lawsuit against Tether in New York, claiming the company froze $42.4 million USDT in their wallets in October 2025 without a warrant, following an informal Homeland Security request. The freeze used Tether's smart contrac...
Two Thai businessmen sued Tether in New York, challenging the company's authority to freeze about $42.4 million USDT in October 2025 without a court warrant. The freeze followed an informal request from Homeland Security Investigations amid a broader...
Tether is winding down its synthetic gold-backed stablecoin aUSDT, giving holders until September 17, 2026, to redeem their tokens via the Alloy platform and reclaim the underlying Tether Gold (XAUT) collateral. Despite the announced deadline, on-cha...
Tether's US-regulated stablecoin, USA₮, ended July with $175.91 million in reserves backing 175.25 million tokens, creating a $660,000 surplus. The reserves consist of US dollars and Treasury-backed reverse repurchase agreements held by Anchorage Dig...
Tether's USA₮ stablecoin maintained over 175 million tokens in circulation by the end of July, with reserve assets totaling $175.9 million. This created a record reserve surplus of $661,079, exceeding the redeemable supply by about 5%. Most reserves ...
