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A $344 Million Lawsuit Against Tether, Explained Over Coffee Here is the morning version of a tangled crypto story. A lawyer in New York is asking a federal judge to make Tether hand over $344 million in digital dollars.
Those dollars are sitting frozen in two wallets that the US government says belong to Iran's Revolutionary Guard.
The people behind the lawsuit are American families and businesses who already won court judgments tied to Iran-backed terrorism, but never got paid. Let me unpack the moving parts. Tether is the company that makes USDT.
USDT is what people in crypto call a stablecoin. One USDT is supposed to equal one US dollar. Traders use it the way you might use cash on an exchange floor.
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