“We automatically monitor all customers for potential sanctions violations on an ongoing basis using World-Check,” Paolo Ardoino wrote on Twitter.
He recalled that Tether, the issuer of the first-capitalized USDT stabelcoin, has frozen hundreds of millions of dollars by working with law enforcement agencies around the world on more than 200 cases, including several with U.S. law enforcement.
“Tether not only vets all customers in the primary market, but also conducts enhanced due diligence,” he added.
According to analytics platform Dune, Tether has blocked nearly 460 million USDT at 877 addresses over time.
Earlier, Tether released its results for the first quarter of 2023. According to the report, the company’s net profit was $1.48 billion.
In April, Ardoino said the company had about $1.6 billion in excess reserves to support its stable USDT coin.