Tether and Circle Blacklist $2.3M Address Linked to Sanctioned Russian Exchange

The shockwaves sent through the crypto community with the decision have put a spotlight on an address holding an astounding $2.3 million dollars in USDT and USDC. Further investigation has connected it to Chatex, a now sanctioned Russian cryptocurrency exchange. In its high-risk move, both Tether and Circle—by freezing the funds could to the address—evinced a commitment to compliance this new and essential trend in cryptocurrency if it isn’t to run afoul of legitimate regulation–not to mention safeguard public trust granting stability to the cryptocurrency ecosystems.

Robert Wilson author
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