Tether CEO Paulo Ardoino said a Senate Democrats' probe overlooked work he says cut Iran-linked stablecoin volumes by 94%. The report accused Tether of providing a “significant financial lifeline” to Iran, according to CoinDesk. Since 2023, Tether froze addresses an average of 4 weeks before OFAC and Israel's NBCTF designated them, and before Chainalysis labeled 99%, Ardoino said. The report said Tether did not comprehensively freeze flagged wallets before 2024 and cited Hamas's shift to USDT; Ardoino criticized its release before review. Blumenthal is probing Tether's ties to Cantor Fitzgerald. Tether named former Trump crypto adviser Bo Hines to lead its U.S. unit last fall. In recent weeks, Kalshi odds of Democrats retaking the Senate have risen.
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Tether Says Senator's Probe Overlooked Work That Cut Iran-Linked Volumes
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