bytenews.io

Archive About
English
REGULATION · STORY$2.76 millionin USDT Conduit says Tether frozewithout explanation

Conduit Sues Tether Over $2.76 Million in Frozen USDT Tied to Brazilian Probe

story · 4 sources
4 independentfirst seen published latency 7 min

Conduit, a payments firm, has filed suit against Tether in New York federal court, alleging the stablecoin issuer froze Conduit sues Tether over $2.76 million freeze, says it has ‘no legal entitlement’ to funds.The Block · · read it at the source of its USDT without explanation, according to The Block and The Defiant.

Conduit says Tether has no legal entitlement to the funds and is asking the court to order restoration of access to its treasury wallet, The Defiant reported. The firm says the freeze has cut into its working capital and slowed settlements with clients.

According to Decrypt, Conduit alleges Tether froze the wallet on its own initiative in connection with an investigation by Brazilian authorities that Conduit says it has no connection to. Cointelegraph reported the Brazilian investigation was opened in 2024. Decrypt also reported Conduit’s allegation that Tether has continued to profit from the frozen reserves while declining to release the funds for more than a year.

Tether’s reserves back USDT, the largest stablecoin by market value, and the company has previously frozen wallets in response to law enforcement requests. The lawsuit does not specify what role, if any, Conduit’s wallet is alleged to have played in the Brazilian probe, according to the available reporting.

Sources: The Block, The Defiant, Decrypt, Cointelegraph

This article is for information only and is not financial advice.

What the market did

Price reaction-3.90%HYPE
Independent outlets4
Reports per hour0.13
Noveltyfollow-up4 outlet(s), 1368 min spread

Each figure is this site’s own reading, with what it was measured against. A blank is a reading nobody took, not a zero. The before-the-headline window prints the rate a RANDOM hour clears the same bar, because a hit rate without its null is not a finding.

Tags: Tether, USDT, lawsuit, stablecoin, Conduit

Tether

Canonical IDBYTE-2026-10-07-1671permanent link
Cite this
Post on X Telegram
← more bytes