Tether, the world’s largest stablecoin developer, has blocked USDT worth $46 million in total.
According to the statement made by Tether, the company On the Tron blockchain decided to block the 46 million USDT produced.
In a statement to the press by a Tether executive, “We received a request from law enforcement to freeze some assets due to an ongoing investigation.” it said.
USDT, which is pegged exactly to the US dollar under normal conditions, lost this equivalence after FTX stopped its withdrawals. According to CoinGecko data, USDT is trading at $0.995 at the time of writing.
Tether frozen What investigation is the $46 million USDT linked to? Unknown. However, some of the claims made are that it is a cryptocurrency exchange. Could be related to FTX towards.
blocked by Tether The blockchain address is assumed to be associated with FTX.
No explanation has yet been received from the parties involved.
The SEC and the CFTC, which oversee the financial markets in the United States, launched an investigation into FTX had been learned.