Just saw Ardoino go after the Senate on X in the early hours: In Blumenthal’s report claiming “USDT is a lifeline for Iran’s shadow banking,” he says the data was taken out of context—since 2023, Tether has frozen addresses an average of four weeks before formal OFAC sanctions, and 99% were frozen before Chainalysis flagged them. Stablecoin transaction volume linked to Iran has plunged 94%.
The Senate tells a different story: Of 846 sanctioned wallets linked to Iran, 84% used almost exclusively $USDT. Blumenthal also wrote to the Treasury and Justice Departments urging them to investigate Tether.
Both things could be true: one side counts “what coins the bad guys use,” the other counts “how quickly they get frozen.” The argument was never about the numbers—it’s about what those numbers actually prove.
“Looking in the mirror this morning, I know we’re doing the right thing”—crypto CEO-style self-congratulation, or really driving the bad guys away from USDT? Sound off in the comments: A) Freezing them four weeks early is good enough; you can’t stop bad guys from switching to a new shell. B) If 84% use USDT, that’s the original sin; freezing them fast is still closing the stable door after the horse has bolted.
$BTC $ETH #Tether #伊朗 #Sanctions
The Senate tells a different story: Of 846 sanctioned wallets linked to Iran, 84% used almost exclusively $USDT. Blumenthal also wrote to the Treasury and Justice Departments urging them to investigate Tether.
Both things could be true: one side counts “what coins the bad guys use,” the other counts “how quickly they get frozen.” The argument was never about the numbers—it’s about what those numbers actually prove.
“Looking in the mirror this morning, I know we’re doing the right thing”—crypto CEO-style self-congratulation, or really driving the bad guys away from USDT? Sound off in the comments: A) Freezing them four weeks early is good enough; you can’t stop bad guys from switching to a new shell. B) If 84% use USDT, that’s the original sin; freezing them fast is still closing the stable door after the horse has bolted.
$BTC $ETH #Tether #伊朗 #Sanctions