Ardoino Says Tether Actions Cut Iran-Linked Stablecoin Volume by 94%

Tether CEO Paolo Ardoino said Monday, Oct. 19, that the company’s actions led Iran-linked stablecoin volumes to decline 94%. He did not specify the period measured, the starting volume or which wallets were included in the calculation. That leaves the claim difficult to compare with a Democratic review of Iran-linked wallets. Investigators on the Senate Permanent Subcommittee on Investigations examined 846 unique wallets sanctioned or targeted for seizure over links to Iran and its regional proxies. They found that 84% had transacted exclusively or nearly exclusively in Tether USD₮ (USDT), the company’s dollar-pegged stablecoin.