Tether has frozen over half a billion USD worth of digital assets at the request of Turkish authorities, as part of an investigation into illegal online gambling networks and money laundering. The Istanbul prosecutor previously seized approximately 460 million euros (544 million USD) in assets belonging to Veysel Sahin; later confirming that the related crypto company is Tether — the issuer of the USDt stablecoin.
A Tether representative stated that the company acts based on information from law enforcement agencies and complies with regulations in various countries, similar to collaborations with the DOJ or FBI. Turkey has seized more than 1 billion USD in assets from related investigations.
By the end of 2025, Tether and Circle had blacklisted around 5,700 wallets holding approximately 2.5 billion USD, mostly in USDT. Tether also reported supporting over 1,800 investigations across 62 countries, resulting in 3.4 billion USD in USDT being frozen. Despite cooperating with authorities, USDt remains under scrutiny due to its previous involvement in money laundering and sanctions evasion.
In Q4 2025, USDt’s market capitalization reached a record approximately 187.3 billion USD, with 24.8 million active wallets monthly and a quarterly transfer volume of 4.4 trillion USD, reaching new on-chain highs.
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