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Tether has frozen approximately $4 billion worth of its USDT tokens at the request of global law enforcement agencies.
Tether has never undergone a proper financial audit, which has led to skepticism regarding the strength of its reserves.
In February 2021, the New York Attorney General's office found that Tether had misrepresented its reserve holdings and subsequently banned the company from doing business in New York.
The Commodity Futures Trading Commission fined Tether $41 million after finding that between 2016 and 2018, the company only had enough fiat reserves to back its USDT tokens about 25% of the time.
The children of Commerce Secretary Howard Lutnick own a convertible bond that could represent a 5% stake in Tether, which had a potential valuation of $500 billion.
The U.S. Congress passed the Genius Act, which creates a regulatory framework for stablecoins.
The Genius Act mandates that stablecoin issuers like Tether and Circle must back their tokens with reserves of U.S. Treasuries.
In late 2025, Tether's CEO announced the company held about $135 billion in U.S. Treasuries, making it the 17th largest holder of U.S. debt in the world.
Last year, Tether reported a profit of $10 billion with a staff of only 300 people.
Tether is attempting to raise money at a valuation exceeding $500 billion.
Last year, Tether purchased 70 tons of gold, a quantity that exceeded the reported purchases of almost any single central bank.
Bo Hines, a former key crypto advisor in the Trump administration, is now the CEO of Tether's U.S. operations.