Tether USDT aids Iran funding, Senate report says

AI Summary

A report led by Senate Democrats says Tether’s USDT stablecoin has served as a significant financial channel for Iran and groups including Hezbollah. The investigation examined 846 crypto wallets sanctioned by Israel and the United States in connection with Iran.

By Chandni Shah Sept 28 (Reuters) - Tether's USDT stablecoin has become a "significant financial lifeline" for Iran and a tool for funding proxy organizations, including Hezbollah, according to a report led by Senate Democrats, published on Monday. Led by Senator Richard Blumenthal of Connecticut, the top Democrat on the Senate Permanent Subcommittee on Investigations, the report analyzed 846 crypto wallets that have been sanctioned by Israel and the US in connection with Iran.