Share this article
Tether Freezes $28M USDT on Russian Crypto Exchange Garantex
"Tether has entered the war against the Russian crypto market and blocked our wallets worth over 2.5 billion rubles," Garantex said.
Updated Mar 6, 2025, 1:19 p.m. Published Mar 6, 2025, 12:12 p.m.
Make us preferred on Google
What to know:
- Tether has frozen $28 million worth of USDT on Russian crypto exchange Garantex.
- Garantex, which has been sanctioned by the European Union for links to the Russian government and criminal organizations, has suspended all its services temporarily.
Stablecoin issuer Tether has frozen $28 million worth of USDT on Russian crypto exchange Garantex.
Garantex, which has been sanctioned by the European Union for links to the Russian government and criminal organizations, has suspended all its services temporarily, the exchange announced on Telegram on Thursday.
STORY CONTINUES BELOW
"Tether has entered the war against the Russian crypto market and blocked our wallets worth over 2.5 billion rubles," Garantex said.
"Please note that all USDT held in Russian wallets is now under threat. As always, we are the first, but not the last," it added.
Plus pour vous
Plus pour vous
Crypto group counters Wall Street bankers with its own stablecoin principles for bill
After the bankers shared a document at the White House demanding a total ban on stablecoin yield, the crypto side answers that it needs some stablecoin rewards.
Ce qu'il:
- The U.S. Senate's crypto market structure bill has been waylaid by a dispute over something that's not related to market structure: yield on stablecoins.
- The Digital Chamber is offering a response to a position paper circulated earlier this week by bankers who oppose stablecoin yield.
- The crypto group's own principles documents argues that certain rewards are needed on stablecoin acvitity, but that the industry doesn't need to pursue products that directly threaten bank deposits business.
Top Stories
