Tether Freezes $13.4M USDT Amid Growing Legal Battle Over Stablecoin Control

Tether, the world’s largest stablecoin issuer, has frozen over $13.4 million worth of USDT on Ethereum and Tron networks following a legal battle over its methods for blocking funds. This action comes as Tether faces scrutiny from law enforcement agencies investigating potential criminal activity, prompting a lawsuit by Riverstone Consultancy Inc. The company’s freeze operation indicates the tension between rapid response to potential crime and due process for legitimate users of blockchain technology.