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Tether Faces a $344 Million Lawsuit Over Frozen Iran-Linked USDT Good morning. Here is a court case worth watching with your first cup of coffee.
An attorney named Charles Gerstein walked into a Manhattan federal court last week with a bold ask.
He wants Tether, the company behind the USDT stablecoin, to hand over roughly $344 million sitting in two frozen wallets. sanctions officials say those wallets belong to Iran's Revolutionary Guard.
One coin is meant to equal one dollar. Tether issues it, and unlike bitcoin, Tether can hit a kill switch on any wallet it does not like.
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