Tether has frozen over $344 million in USDT tokens connected to sanctions evasion and criminal scams, working closely with U.S. authorities including the Treasury’s OFAC. This action supports recent U.S. law enforcement seizures of $61 million and $225 million in USDT tied to "pig butchering" scams, where victims are defrauded through fake crypto investments. CEO Paolo Ardoino emphasized that USDT is not a safe haven for illegal activities due to its traceability and Tether's strong controls. The case underscores the growing regulatory scrutiny on stablecoins as both tools for illicit use and points of control for law enforcement.
Circle won a court-backed arbitration ruling confirming it lawfully suspended Heka Funds' USDC minting and redemption services due to undisclosed ties to Tether and suspected market manipulation. Heka failed to disclose Tether as its main investor, w...
Tether is shifting stablecoin use from crypto trading to everyday financial services by leading a $7 million investment in Pact Labs. The company aims to integrate its stablecoin USA₮ into payroll systems and real-time payments, addressing the $11 tr...
Pact Labs secured $7 million in a Series A funding round led by Tether to enhance its on-chain lending platform on the Aptos blockchain. The company operates the PACT Protocol, which has facilitated nearly $2 billion in loans and serves around 500,00...
Tether led a $7 million Series A funding round in Pact Labs to expand the use of its USA₮ stablecoin in payroll, payments, and lending through fintech partnerships. Pact Labs connects traditional fintech with blockchain liquidity, enabling over 500,0...
South Korean cryptocurrency exchange Upbit began trading the Derive (DRV) token on July 14, offering trading pairs with Korean won (KRW), Bitcoin (BTC), and Tether (USDT). This listing enhances DRV's exposure in one of Asia's largest crypto markets a...
