This is why we need Bitcoin.😆
Post
--
深潮 TechFlow
·
--
Tether sued over $2.76 million freeze; payments company alleges funds were locked without cause for a year while Tether earned interest
By Decrypt
Compiled by: Deep Tide TechFlow
Deep Tide’s take: Cross-border payments company Conduit has sued Tether in a federal court in New York, alleging that it froze $2.76 million in operating funds without legal grounds for more than a year. The case puts the limits of Tether’s authority to freeze USDT in the spotlight: if stablecoin issuers can arbitrarily lock corporate wallets, who would dare put mission-critical funds on-chain?
Cross-border payments company Conduit has taken Tether to court, alleging that the stablecoin giant froze $2.76 million of its funds without justification and refused to release them for more than a year.
Compiled by: Deep Tide TechFlow
Deep Tide’s take: Cross-border payments company Conduit has sued Tether in a federal court in New York, alleging that it froze $2.76 million in operating funds without legal grounds for more than a year. The case puts the limits of Tether’s authority to freeze USDT in the spotlight: if stablecoin issuers can arbitrarily lock corporate wallets, who would dare put mission-critical funds on-chain?
Cross-border payments company Conduit has taken Tether to court, alleging that the stablecoin giant froze $2.76 million of its funds without justification and refused to release them for more than a year.