Tether Freezes $544 Million in USDT at Request of Turkish Prosecutors
The move underscores stablecoins’ growing role in law-enforcement asset freezes following an Istanbul legal request.
Overview
- Tether confirmed it immobilized roughly $544 million in USDT tied to an alleged illegal betting and money-laundering network linked to Veysel Sahin.
- Turkey’s Istanbul Chief Public Prosecutor’s Office is leading the probe, with authorities also seeking seizure orders for bank accounts and property.
- Tether CEO Paolo Ardoino said the company reviewed evidence from investigators and acted in line with local laws, consistent with its cooperation with agencies such as the DOJ and FBI.
- The company says it has assisted in more than 1,800 inquiries across 62 countries and has frozen about $3.4 billion in USDT over time, one of the largest tallies in the sector.
- Separately, on-chain trackers recorded roughly $1 billion in new USDT minted during a sharp Bitcoin selloff, highlighting the issuer’s dual role in liquidity provision and enforcement cooperation.