Tether freezes 46.3 million USDT owned by FTX at request of law enforcement

Companies • November 10, 2022, 9:42AM EST
UPDATED: November 10, 2022, 9:48AM EST
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Quick Take

  • Tether has frozen 46 million of USDT owned by crypto exchange FTX.
  • This comes as a result of a request from law enforcement.

Tether has frozen 46 million of USDT owned by crypto exchange FTX at the request of law enforcement.

On-chain data shows Tether has frozen a wallet address with 46,360,701 USDT ($46.3 million) on the Tron network. This address reportedly belongs to FTX.

"We are starting to receive requests from LE to temporarily freeze assets while investigation occur," a Tether executive told CoinDesk.

This comes days after FTX stopped withdrawals, citing liquidity issues. FTX CEO Sam Bankman-Fried said today, however, that the exchange has more assets than client deposits.


Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.

© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

AUTHOR

Tim Copeland profile picture Tim Copeland

Tim Copeland is the Head of Growth at The Block and host of The Crypto Beat, a live-streaming podcast. He was previously the company's Editor-in-Chief and spent seven years covering the industry as a journalist. Prior to joining The Block, Tim was a news editor at Decrypt. He earned a bachelor's degree in philosophy from the University of York and studied news journalism at Press Association Training. Follow him on X @Timccopeland.

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