Tether Freezes $46M of USDT Following Law Enforcement Request

Stablecoin issuer Tether has frozen $46 million of USDT on the Tron blockchain following a request from law enforcement.

"We are starting to receive requests from LE to temporarily freeze assets while investigation occur," a Tether executive told CoinDesk.

USDT fell 3% from its $1 peg earlier today as contagion begins to spread following FTX's decision to halt withdrawals. It's currently returned to just a fraction below $1.