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#Tether frozen under U.S. sanctions
$344 million involved, in USDT!
I looked into it, and this should have nothing to do with Brother Sun. Brother Sun previously sued the $WLFI project.
Many bloggers analyzed this matter and gave Brother Sun a “hat,” and the Americans started targeting Brother Sun—still, it’s just riding on Brother Sun’s traffic.
The specific reason is illegal activities: they’re cracking down on Iran-related financial sanctions and “pig-butchering” scam schemes in Southeast Asia. These two freezes are also among the largest single stablecoin freezes in the history of the crypto industry.
Many official stablecoins can be frozen; they aren’t fully decentralized. Stablecoins like some algorithmic ones won’t be frozen. For example, the stablecoin $DAI issued by MKRDAO (now upgraded to USDS) currently has a scale of over $20 billion—so it’s quite decentralized.