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Tether Freezes $46M USDT in FTX on Tron Blockchain, Setting New Precedent

According to blockchain transaction data provided by WhaleAlert.io on Nov. 10, Tether appears to have frozen 46,360,701 USDT ($46,274,472) owned by the troubled cryptocurrency exchange FTX in the Tron blockchain wallet. The move comes a day after the U.S. Securities and Exchange Commission and the U.S. Department of Justice launched an investigation into his FTX over a liquidity crisis.

A Tether spokesperson said on Oct. 11 that the company will only freeze private wallets if it receives a valid request from a verified law enforcement agency, and “does not freeze wallets for exchanges or services.” said. If confirmed, the FTX wallet freeze would be the first of its kind. On the same day, Japanese authorities ordered FTX to suspend operations in the country after the exchange suspended withdrawals.

This is evolving news and will be updated accordingly.