Tether’s Ardoino disputes Iran report with four-week freeze claim
Ardoino said Tether froze flagged addresses four weeks before official designations on average since 2023 and before Chainalysis labels in 99% of cases.
- On Monday, Tether CEO Paolo Ardoino disputed a Senate report accusing the firm of enabling Iranian illicit finance, asserting the company proactively freezes suspicious addresses long before official designations.
- Democrats on the Senate Permanent Subcommittee on Investigations issued a report last month describing Tether as providing "a significant financial lifeline within Iran's shadow banking network," citing inconsistent freezing practices.
- Defending the company's record, Ardoino claimed that since 2023, Tether freezes addresses "on average 4 weeks prior to OFAC" sanctions, while its actions "led to Iran-linked stablecoin volumes declining by 94%."
- During a remote appearance at DC Fintech Week last Tuesday, Ardoino addressed the Senate's findings, stating "our aim is to push out the bad actors from USDT."
- Senator Richard Blumenthal is also probing Tether's relationship with Cantor Fitzgerald and its U.S. division CEO Bo Hines, a former crypto adviser to the administration of President Donald Trump.
30 Articles
30 Articles
Tether CEO Says Addresses Frozen Weeks Ahead of Sanctions, Driving 94% Drop in Iran-Linked Volumes
A major stablecoin issuer says it is outpacing official sanctions and analytics labels with proactive freezes on suspicious addresses. Tether CEO Paolo Ardoino says that since 2023 the firm froze addresses an average of four weeks before the U.S. Treasury Department’s Office of Foreign Assets Control and Israel’s National Bureau for Counter Terror Financing formally flagged them as being linked to Iran. He also says that the firm froze the repor…
Paolo Ardoino claims that Tether reduced USDT volumes related to Iran by 94% by freezing portfolios even before the official sanctions.
Tether’s Ardoino disputes Iran report with four-week freeze claim
Tether CEO Paolo Ardoino has challenged Senator Richard Blumenthal’s Iran sanctions report, saying the company has frozen flagged addresses an average of four weeks before official designations since 2023. Paolo Ardoino said in an Oct. 19 post that the comparison…
Blockchain Bulletin: Tether CEO says it has stopped 94% of Iran stablecoin links
This week on Blockchain Bulletin, Tether CEO Paolo Ardoino has responded to a US government report claiming USDT is acting as a “financial lifeline” for Iran shadow banks. Also this week, Major wall street firms call to stop OKX and NY Stock Exchange’s plans to tokenise their stocks, JP Morgan brings its digital token to […]
Coverage Details
Bias Distribution
- 80% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
