Tether Lawsuit: Alleged Unlawful USDT Freeze Impacts Investment Opportunities

The cryptocurrency firm Tether is facing legal action from Texas-based Riverstone Consulting over alleged unlawful freezing of customer funds. The lawsuit, filed in the Southern District of New York, claims that Tether unlawfully froze $44.7 million worth of USDT assets, thereby hindering Riverstone’s investment opportunities. Riverstone argues that this action was procedurally flawed as it deviated from the established protocols outlined by the Bulgarian International Judicial Assistance Treaty, which mandates information exchanges through central authorities and diplomatic channels.