Tether has assisted Turkish authorities in seizing approximately $544 million in USDT tied to an illegal online betting and money-laundering network. CEO Paolo Ardoino confirmed the company’s involvement following an investigation by Istanbul prosecutors into Veysel Sahin, who is accused of operating unlawful platforms. The frozen assets represent a significant portion of the total $1 billion in assets recently seized by Turkish officials in related probes.
The intervention aligns with Tether’s broader strategy of institutional cooperation. The company reports assisting law enforcement in over 1,800 cases across 62 jurisdictions, resulting in the freezing of $3.4 billion in USDT to date. According to data from Elliptic, Tether and Circle have collectively blacklisted approximately 5,700 wallets by late 2025. This proactive stance comes as stablecoins face heightened scrutiny regarding their role in sanctions evasion and illicit financial flows.
Despite regulatory challenges, Tether’s market dominance continues to expand. The USDT market capitalization recently reached a record $187.3 billion, driven by increased network usage and active wallet growth. While competitors such as USDC and USDe have seen stagnated or declining volumes, Tether remains the primary liquidity provider for the digital asset ecosystem. This latest enforcement action underscores the balance the firm must maintain between market expansion and compliance with global legal frameworks.
