Tether Iran Dispute: Ardoino Pushes Back Against Senate

Tether CEO Paolo Ardoino said the company froze Iran crypto addresses an average of four weeks before official designations by the U.S. Office of Foreign Assets Control (OFAC) and Israel’s National Bureau for Counter Terror Financing (NBCTF), while attributing a 94% decline in Iran-linked stablecoin volumes to those actions. This is part of Tether’s response to a Senate report; the company has not published the measurement period, baseline, address set, or asset scope behind the volume decline. Ardoino also said Tether froze reported addresses. In an X post, Ardoino challenged Senator Richard Blumenthal’s interpretation of the Senate findings. His four-week average refers to the time between Tether freezes and official OFAC or NBCTF designations. The separate 99% figure concerns when Tether acted relative to Chainalysis labels.

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