Tether CEO Paolo Ardoino says a recent Senate Democrats report, led by Senator Richard Blumenthal, missed the company's work to enforce sanctions. He claims Tether froze suspicious addresses on average 4 weeks before OFAC and NBCTF sanction designations, and before Chainalysis labelled them in 99% of cases since 2023. Ardoino says these actions led to Iran-linked stablecoin volumes declining by 94%. The Senate report, which described Tether as providing a significant financial lifeline within Iran's shadow banking network, said the company did not comprehensively freeze flagged wallets before 2024. Blumenthal is also probing Tether's relationship with its U.S. financial partner, Cantor Fitzgerald.
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Related tickers and likely impact
BTC/USDT
• NeutralBitcoin
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/18/2026 | 82,116.00 |
| Change that session | +0.77% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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