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 contract blacklist function, blocking token transfers before any court order was issued. A seizure warrant arrived months later in February 2026, ordering Tether to burn the frozen tokens and replace them with government-controlled ones, linked to a pig-butchering fraud case. The plaintiffs seek removal of the blacklist, return of their tokens, and damages, challenging whether Tether can freeze tokens without legal authority. Tether has not publicly responded yet, and the case raises important questions about stablecoin control and legal rights over tokens.
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 ...
Tether CEO Paolo Ardoino disputes the Bank for International Settlements' (BIS) preference for tokenized bank deposits, arguing that stablecoins backed by US Treasury bonds provide more solid reserves and guarantees. Ardoino highlights that tokenized...
