Tether CEO Paolo Ardoino has challenged a U.S. Senate report on Iran-linked crypto activity, saying the issuer froze flagged $USDT addresses an average of four weeks before U.S. and Israeli sanctions designations since 2023. He also claims Tether acted before Chainalysis labeled the relevant addresses in 99% of cases.
Ardoino attributes a 94% decline in Iran-linked stablecoin transaction volume to Tether’s enforcement efforts. Those figures are company assertions: the underlying wallet-level dataset, calculation method and measurement period for the volume decline have not been independently verified.
The Senate investigation examined 846 wallets linked to Iran or regional groups and said 84% used USDT exclusively or predominantly. Investigators questioned #tether historical response times and sought further scrutiny. The disagreement concerns when addresses were identified and frozen, not evidence of a USDT depeg or reserve shortfall.
Ardoino attributes a 94% decline in Iran-linked stablecoin transaction volume to Tether’s enforcement efforts. Those figures are company assertions: the underlying wallet-level dataset, calculation method and measurement period for the volume decline have not been independently verified.
The Senate investigation examined 846 wallets linked to Iran or regional groups and said 84% used USDT exclusively or predominantly. Investigators questioned #tether historical response times and sought further scrutiny. The disagreement concerns when addresses were identified and frozen, not evidence of a USDT depeg or reserve shortfall.