Tether Freezes $28 Million in USDT on Sanctioned Russian Exchange Garantex

Tether, the issuer of the USDT stablecoin, has frozen $28 million worth of USDT on the Russian crypto exchange Garantex, which has been sanctioned by the EU for ties to the Russian government and criminal organizations. In a Telegram announcement, Garantex suspended all services temporarily and criticized Tether, stating that their wallets containing over 2.5 billion rubles are now at risk. This move signals Tether's efforts to combat illicit activities within the Russian crypto market, potentially impacting the availability of USDT in Russian wallets.