Tether, Major Holder of U.S. Debt, Faces Scrutiny Over Iran-Linked Transactions
U.S. officials have increasingly focused on cryptocurrency channels used by Iran to bypass sanctions in 2026. Tether’s stablecoin USDT has been identified as a key tool for Iranian government and proxy groups like Hezbollah. A Senate report found widespread use of USDT among wallets linked to Iran, raising concerns due to Tether's significant exposure to U.S. Treasury securities. Tether is the largest stablecoin with $184.6 billion in circulation and held about $141 billion in direct or indirect U.S. debt at the end of March 2025. The company reported a second-quarter net operating profit of $1.5 billion, while also adding to its gold reserves during the period. Separate investigations are looking into other crypto platforms for potential sanctions violations related to Iran. Tether claims it has frozen over $344 million in April and more than $130 million in July from wallets linked to Iranian entities.
Topics: crypto laundering Iran stabilitycoins Tether (USDT) U.S. sanctions