The stablecoin provider’s CEO, Paolo Ardoino, has actually been 
preventing allegations that the company’s stablecoins have actually sustained monetary activity in Iran.
Oct 19, 2026, 4:21 p.m. EDT
- Tether CEO Paulo Ardoino published on X that his business is frequently method ahead of federal government sanctions when it freezes suspicious deals– a point he competes a current report from Senate Democrats overlooked.
- He stated he’s positive Tether is “doing the right thing.”
Tether is responding to back versus a report provided last month by Democrats on the Senate Permanent Subcommittee on Investigations that had actually implicated the stablecoin company of offering “a significant financial lifeline within Iran’s shadow banking network,” with Tether CEO Paulo Ardoino stating Monday that the probe missed out on the favorable work it’s doing to observe sanctions.
Senator Richard Blumenthal, the subcommittee’s leading Democrat, led the effort, which even more highlighted Democratic legislators’ issues that crypto is utilized to support illegal financing. Ardoino competes that Tether freezes suspicious deals well before entities such as the U.S. Treasury Department’s Office of Foreign Assets Control and Israel’s National Bureau for Counter Terror Financing officially flag them.
“Senator Blumenthal’s ‘analysis’ of Tether’s sanctions report misses that, since 2023, Tether froze on average 4 weeks prior to OFAC & NBCTF official sanction designation and for 99% of the times Tether froze the reported addresses before Chainalysis labelled them,” Ardoino composed in a post on social networks website X
Ardoino went on to argue that the business’s actions “led to Iran-linked stablecoin volumes declining by 94%.”
Tether’s CEO likewise spoke from another location at a Washington occasion, DC Fintech Week, and resolved the senator’s report there, also, last Tuesday. He slammed how it was launched to the media before his business might examine it.
“I believe it’s important for the public also to hear our side of the story,” he stated.
“Our aim is to push out the bad actors from USDT,” Ardoino stated. “Those bad actors are moving to other means that are outside of the control of the United States, and now outside of our control.”
He included that the work “is not finished,” He stated he’s pleased with Tether’s function.
“I wake up in the morning and I look at myself in the mirror, and I know that we’re doing the right thing,” he stated.
The Senate report returned a variety of years, focusing in part on the duration before 2024 in which it stated Tether didn’t thoroughly freeze flagged wallets. “This absence of deterrence invited abuse: Terrorist organizations such as Hamas shifted from transacting in bitcoin and a mix of cryptocurrencies to promoting USDT,” it stated.
Given that the report, Blumenthal has actually in addition been penetrating the relationship in between Tether and its U.S. monetary partner, Cantor Fitzgerald, which has close ties to the administration of President Donald Trump. Tether likewise called Bo Hines, Trump’s previous White House crypto consultant, as the CEO of its U.S. department last fall.
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