•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Crypto stablecoin issuer Tether said it supported the US government in freezing $344 million in USDT held in two Tron wallets, following a request from the Office of Foreign Assets Control (OFAC) and US law enforcement.
In its Thursday disclosure, Tether said the freeze occurred after authorities identified the wallets as linked to sanctions evasion, criminal networks, or other illicit activity. The company described the action as part of its routine response to lawful requests from governments in the US and abroad.
Tether CEO Paolo Ardoino said USDT should not be used as a “safe haven” for wrongdoing, adding that when Tether sees credible links to sanctioned entities or criminal networks, it acts “quickly and decisively.”
Beyond the specific freeze, Tether said its cooperation has supported more than 2,300 cases globally, including over 1,200 tied to US law enforcement. The company added that these efforts have contributed to the freezing of more than $4.4 billion in assets, including over $2.1 billion linked to US authorities.
Tether’s disclosure comes as Circle, the issuer of USDC and the industry’s second-largest stablecoin provider by this account, faces increased scrutiny. Some critics have argued Circle has not responded as promptly in certain incidents.
The controversy was highlighted after the Drift Protocol hack in early April, when reports alleged that in multiple widely documented thefts and hacks, the issuer either delayed freezing responses or did not freeze funds at all. The allegation was that attackers were able to move large sums across blockchains and convert them into other assets.
According to NewsBTC, Circle is facing a new lawsuit in Massachusetts related to the $280 million Drift Protocol hack. The complaint alleges Circle did not freeze stolen funds despite having both the technical capability and contractual authority to do so.
The allegations state that attackers were able to offload up to $230 million onto the Ethereum blockchain by leveraging Circle’s Cross-Chain Transfer Protocol (CCTP), as framed in the lawsuit. Plaintiffs say the ability to transfer stablecoin-related assets during the period when funds were being moved is central to their claim that Circle should have prevented the transfers.
While Circle faces accusations tied to the Drift incident, Tether announced a strategic collaboration with the Drift Protocol. Tether said the effort is intended to support user recovery and help relaunch the Drift platform.
Tether said the collaboration includes a structured recovery plan supported by up to nearly $150 million in combined backing, including up to $127.5 million from Tether.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
