Even after police cleared it, Tether still froze the funds for over a year. Payments company Conduit is suing Tether: $2.76 million in USDT was frozen without explanation. Brazilian police explicitly confirmed that the address had never been flagged, but the funds still haven’t been released. To be fair, this doesn’t shake Tether’s fundamentals—freezing addresses has long been standard practice. But it’s a reminder for big-money players: you’ve never had control over the freeze switch for stablecoins, so think carefully about how you size your positions.

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