Tether Blacklists Three Ethereum Addresses and Freezes $150 Million Worth of USDT


Tether, owner and user of the world’s largest stablecoin network, wrote three Ethereum addresses Thursday, and suspended $ 150 million inside USDT division among them.

Main requirements:

  • According to the blockchain researcher Bloxy, Tether suspended the money at about 4:30 PM UTC on January 13. Although the exact reason for the decision is still unknown, Tether has the power to stop the addresses of those involved in financial matters, such as money laundering.
  • The combination of the three new addresses on the black list marks the first time Tether has done this year. In the four and a half years since the blacklist was first launched, Tether added 563 addresses to the list, and many came last year when 362 addresses were printed.
  • Due to its medium shape, Tether is able to use its power and control USDT currency at will. This violates the basic principles of crypto and has caused a lot of controversy in the crypto community over the years, with many members believing that Tether has a lot of power.
  • While USDT is still the largest stablecoin, with a net worth of $ 78 billion, competitors are fast. USD Coin, for example, has grown significantly in the last few months and is currently costing $ 45 billion.
  • Algorithmic stablecoins, especially Terra STAY, they are also increasing in number. UST is based on the value of the US dollar through the complex methods of smart contractors and is distributed across all segments. Following the news of the new black band, founder Terra Do Kwon tweeted that “there is no secret to writing $ UST,” implying its inconsistency with Tether’s actions.

David is a crypto lover and an economist. He has produced many publications for various platforms. He loves to explore new things, and that’s how he discovered blockchain in the first place.

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