Tether says it helped freeze $550M in Iran-linked USDT this year

What happened

“Tether has consistently demonstrated that USDT is not a haven for sanctioned actors, terrorist organizations or criminal networks,” said Tether CEO Paolo Ardoino. The statement from Tether came as Democratic investigators on the Senate Permanent Subcommittee on Investigations released a report alleging USDT had become a key channel for Iran to evade sanctions.

Investigators found that 84% of 846 crypto wallets sanctioned over ties to Iran had transacted exclusively or nearly exclusively in USDT. The disclosure came as Senate Democratic investigators alleged USDT had become a key part of Iran’s shadow banking network.

Stablecoin issuer Tether said it helped authorities freeze nearly $550 million in Iran-linked USDT during 2026, as a Senate Democrat called for an investigation into the stablecoin (a digital token meant to hold a fixed value, usually one dollar) issuer on Monday. In a statement on Monday, the company said it has been working closely with international law enforcement for years. This year alone, it froze more than $130 million in USDT across four wallets, and in April, it froze more than $344 million linked to the Central Bank of Iran.

Key facts

• Investigators — found: that 84% of 846 crypto wallets sanctioned over ties to Iran had transacted exclusively or nearly exclusively in USDT