bitcoin
Bitcoin (BTC) $ 17,081.37 0.32%
ethereum
Ethereum (ETH) $ 1,265.78 0.46%
tether
Tether (USDT) $ 1.00 0.14%
bnb
BNB (BNB) $ 290.21 0.11%
usd-coin
USD Coin (USDC) $ 1.00 0.08%
binance-usd
Binance USD (BUSD) $ 1.00 0.00%
xrp
XRP (XRP) $ 0.392822 0.37%
dogecoin
Dogecoin (DOGE) $ 0.103568 0.14%
cardano
Cardano (ADA) $ 0.322366 0.19%
matic-network
Polygon (MATIC) $ 0.919599 0.72%
polkadot
Polkadot (DOT) $ 5.56 0.14%
staked-ether
Lido Staked Ether (STETH) $ 1,251.22 0.52%
litecoin
Litecoin (LTC) $ 81.31 6.75%
shiba-inu
Shiba Inu (SHIB) $ 0.000009 2.14%
okb
OKB (OKB) $ 21.54 1.39%
dai
Dai (DAI) $ 1.00 0.01%
solana
Solana (SOL) $ 13.94 3.20%
tron
TRON (TRX) $ 0.053617 0.72%
uniswap
Uniswap (UNI) $ 6.22 0.67%
avalanche-2
Avalanche (AVAX) $ 13.82 1.53%
leo-token
LEO Token (LEO) $ 3.85 1.78%
chainlink
Chainlink (LINK) $ 7.32 0.03%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 17,074.30 0.52%
cosmos
Cosmos Hub (ATOM) $ 10.38 2.14%
ethereum-classic
Ethereum Classic (ETC) $ 19.76 1.75%
the-open-network
The Open Network (TON) $ 1.84 1.70%
monero
Monero (XMR) $ 144.84 0.78%
stellar
Stellar (XLM) $ 0.087682 0.11%
bitcoin-cash
Bitcoin Cash (BCH) $ 113.23 2.83%
quant-network
Quant (QNT) $ 125.19 2.52%
crypto-com-chain
Cronos (CRO) $ 0.070424 9.63%
algorand
Algorand (ALGO) $ 0.241059 0.21%
filecoin
Filecoin (FIL) $ 4.54 0.05%
near
NEAR Protocol (NEAR) $ 1.75 3.50%
apecoin
ApeCoin (APE) $ 3.98 0.07%
vechain
VeChain (VET) $ 0.019353 0.88%
internet-computer
Internet Computer (ICP) $ 4.44 3.11%
hedera-hashgraph
Hedera (HBAR) $ 0.049061 2.65%
flow
Flow (FLOW) $ 1.12 0.49%
terra-luna
Terra Luna Classic (LUNC) $ 0.000175 0.81%
elrond-erd-2
MultiversX (Elrond) (EGLD) $ 43.63 1.46%
axie-infinity
Axie Infinity (AXS) $ 9.01 32.04%
eos
EOS (EOS) $ 0.939016 1.53%
frax
Frax (FRAX) $ 0.999834 0.01%
the-sandbox
The Sandbox (SAND) $ 0.630335 7.31%
trust-wallet-token
Trust Wallet (TWT) $ 2.35 3.49%
tezos
Tezos (XTZ) $ 1.02 1.66%
aave
Aave (AAVE) $ 64.58 1.74%
theta-token
Theta Network (THETA) $ 0.896573 0.76%
huobi-token
Huobi (HT) $ 6.68 1.12%

Law enforcement asked Tether to freeze FTX’s $46.5 million USDT.

05/12/2022
07/12/2022
08/12/2022

MetaVentures Bangkok 2022

Bangkok, Thailand
14/12/2022
27/02/2023

ICBM Expo

Dubai, UAE
03/03/2023

Major stablecoin issuer Tether froze $46.5 million of USDT held by the collapsing crypto exchange FTX, reportedly at the request of law enforcement.

Specifically, this is the USDT held on the Tron blockchain in a wallet belonging to FTX, according to block explorer Tronscan.

This wallet contains USDT 46,549,320, along with some TRX, USDD, and other coins, with a total value of $66.4 million. This means that the majority of the wallet’s contents have been frozen. 

That said, the reason appears to be a legal investigation.

CoinDesk quoted a Tether executive as stating that the company is “starting to receive requests from [law enforcement] to temporarily freeze assets while an investigation occurs.”

Among the law enforcement agencies with which a spokesperson said Tether has “open dialogue,” they named the US Department of Justice.

As reported, the DoJ and the US Commodity Futures Trading Commission (CFTC) are currently investigating FTX. Furthermore, reportedly, the US Securities and Exchange Commission (SEC) is said to have already been investigating FTX’s handling of customer funds and its crypto-lending activities for several months, while also looking into FTX’s relationship with FTX US.  

No connection to FTX

Tether Global has been rumored to have been connected to FTX and its parent company Alameda Research. The company, however, issued a statement on Wednesday claiming that, 

“Tether has absolutely no credit towards FTX or Alameda Research. Tether is completely unexposed to Alameda Research or FTX.’’

Additionally, Tether CTO Paolo Ardoino tweeted that the company will not be providing any financial support to FTX.

Tether further reiterated that the majority of Tether’s reserves are now US Treasuries. 

In a Thursday announcement, it “highlighted a massive reduction in commercial papers with exposure only representing 0.07% of the reserves,” adding that it reduced its commercial paper exposure by more than $24 billion with no losses over the course of 2022.

‘USDT did not depeg’

Meanwhile, Coingecko showed that USDT fell 4% from its $1 peg on Wednesday morning, UTC time. The reason behind the drop was generally presumed to be the spreading FTX contagion. 

However, per a Wednesday statement by Tether, this was due to a data issue that stemmed from CoinGecko’s Application Programming Interface [API] connection with a few exchanges, adding: “Tether did not depeg. The price discrepancy of USDT existed there and there alone while on Binance, Bitfinex, and Coinbase it was trading within 10bps from parity.” 

As for FTX’s FTT coin, it’s up nearly 24% in the last day and is down 86% over the past week, trading at $3.43 on Friday morning. 

Compiled by Coinbold

Top Gainers
NamePrice24h %
Top Losers
NamePrice24h %