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.
