THORChain technical co-founder Chad Barraford said Tether froze their USDT treasury and then unfroze it, without offering any explanation. The treasury of a decentralized cross-chain protocol can be shut down and reopened just like that, with no reason given in between. This isn’t the first time: stablecoin issuers hold the power to freeze funds, but those affected can’t even find where to appeal. Tether has never published its criteria for freezing funds, its review timeline, or who has the authority to unfreeze them. Today it’s THORChain’s treasury; tomorrow it could be any address. I looked into it, and to this day Tether has not made a public process for appealing freezes available. A centralized issuer can do this to a decentralized protocol, and the entire industry still has no formal response mechanism. $USDT