Tether Freezes Over $544 Million at Turkey's Request

Tether froze over $544 million in crypto assets on Feb. 7 at Turkey's request, targeting funds linked to an alleged illegal online gambling and money laundering network, BlockBeats reports. The company said it implemented the freeze after law enforcement provided case information, with CEO Paolo Ardoino emphasizing Tether's cooperation with official actions as part of its global compliance work, according to Cointelegraph. Elliptic data show that as of end-2024, Tether and Circle had blacklisted about 5,700 wallets across their platforms, with frozen funds totaling around $2.5 billion, roughly two-thirds of which were associated with USDT. Ardoino added that Tether has previously worked with the U.S. Department of Justice and the FBI, framing such collaboration as integral to the company's compliance approach.