Stablecoin issuer Tether said it helped authorities freeze about $550 million in Iran-linked USDT in 2026, as Senate Democrats called for an investigation into the stablecoin issuer on Monday.
The company gave this information in a statement on Monday said It has been working closely with international law enforcement agencies for years. This year alone, it froze more than $130 million in USDT across four wallets, and in April, it froze more than $344 million linked to Iran’s central bank.
“Tether has consistently demonstrated that USDT is not a haven for sanctioned actors, terrorist organizations or criminal networks,” said Tether CEO Paolo Arduino.
Tether’s statement came as the Democratic investigator for the Senate Permanent Subcommittee on Investigations release One report alleges that USDT has become a key channel for Iran to evade sanctions.
The investigators found that 84% of the 846 crypto wallets approved for ties to Iran dealt exclusively or almost exclusively in USDT. The findings prompted U.S. Senator Richard Blumenthal to call on the Treasury and Justice Departments to investigate possible sanctions violations.
Tether said its cooperation with authorities worldwide resulted in $4.9 billion in asset freezes, including more than $2.4 billion linked to US authorities.
“The record is public: DOJ, FBI, Secret Service, HSI, OFAC and authorities around the world have repeatedly worked with Tether to trace, freeze and recover assets. We will continue to make that capability available to authorities working to stop terrorism, sanctions evasion, fraud and other serious crimes,” Ardoino said.
Related: Manhattan US Attorney Leads Binance’s Iran Compliance Probe: Bloomberg
