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Tether reportedly puts FTX’s $46M in USDT on ice

Tether has reportedly blacklisted $46.27 million worth of USDT belonging to FTX.

❄ An address with a balance of 46,360,701 #USDT (46,274,472 USD) has just been frozen!https://t.co/W958MBbhA9

— Whale Alert (@whale_alert) November 10, 2022

Whale alerts reported that an FTX address with a balance of 46.36 million USDT was blacklisted. Coindesk reported that the seizure was carried out on the orders of law enforcement agencies.

According to Coindesk, a Tether executive said:

“We are starting to receive requests from LE to temporarily freeze assets while investigation occur.”

CryptoSlate reported earlier that Tether’s USDT had slightly lost its peg during the early trading hours of Nov. 10. Speculations within the space were that Alameda was shorting the asset in expectation of further drops.

The stablecoin issuer has previously denied it had exposure to the struggling crypto exchange or Alameda Research

Journalist at CryptoSlate

Oluwapelumi is a believer in the transformative power Bitcoin and the blockchain industry holds.

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Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

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