Stablecoin issuer Tether said it helped authorities freeze nearly $550 million in Iran-linked USDT during 2026, as a Senate Democrat called for an investigation into the stablecoin issuer on Monday.
In a statement on Monday, the company said it has been working closely with international law enforcement for years. This year alone, it froze more than $130 million in USDT across four wallets, and in April, it froze more than $344 million linked to the Central Bank of Iran.
“Tether has consistently demonstrated that USDT is not a haven for sanctioned actors, terrorist organizations or criminal networks,” said Tether CEO Paolo Ardoino.
The statement from Tether came as Democratic investigators on the Senate Permanent Subcommittee on Investigations released a report alleging USDT had become a key channel for Iran to evade sanctions.
Investigators found that 84% of 846 crypto wallets sanctioned over ties to Iran had transacted…
