USDT News: Tether Freezes Over $28 Million USDT on Russian Crypto Exchange Garantex

In a recent development, Tether, the issuer of the popular stablecoin USDT, has frozen several wallets containing over $28 million worth of USDT on the Russian crypto exchange Garantex. This move has led to significant disruptions in Russia’s digital asset-based international trade.

Tether Freezes $28 million USDT on Russian Exchange Garantex

Tether has frozen several USDT wallets on the Russian exchange Garantex, worth over $28 million. Garantex stated that USDT stablecoins in user wallets are at risk and has temporarily halted all operations. Co-founder Sergey Mendeleev warned that this action disrupts Russia’s international trade carried out with digital assets.

Tether Freezes $27 Million USDT on Sanctioned Russian Crypto Exchange Garantex

Stablecoin operator Tether has frozen $27 million worth of USDT on the Russian crypto exchange Garantex, which has been sanctioned by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). The cryptocurrency exchange has also suspended all its trading and withdrawal services. OFAC revealed that the majority of Garantex’s operations were carried out in Saint Petersburg, Russia, where other sanctioned digital asset exchanges had also operated.

FBI Offers $10M for Capture of Ex-Olympian Accused of Using Cryptocurrency for Criminal Activity

The FBI has offered a reward of up to $10 million for the capture of former Olympic snowboarder Ryan Wedding, who has been accused of drug- and homicide-related crimes. Wedding and his co-conspirators allegedly used USDT, a stablecoin pegged to the US dollar, for drug sales and to launder money, avoiding traditional banking systems. The 43-year-old Canadian national has been added to the FBI’s Ten Most Wanted Fugitives list, with the $10 million reward supplementing the existing $50,000 offer for information leading to his arrest. This reward is jointly offered with assistance from the Canadian and Mexican governments.