Tether CEO Paolo Ardoino disputed U.S. Senator Richard Blumenthal's analysis of the company's sanctions compliance, claiming its wallet freezes had reduced Iran-linked stablecoin transaction volume by 94%. Ardoino said Tether, issuer of the world's largest stablecoin USDT, had frozen relevant addresses an average of four weeks before official U.S. and Israeli sanctions designations since 2023, and acted before Chainalysis flagged them in 99% of cases.