Tether CEO Paolo Ardoino recently disclosed more details on the company's collaboration and information-sharing agreements with US law enforcement agencies the FBI and Secret Service. In letters sent to key legislators last month, Ardoino underscored Tether's ongoing dedication to security, compliance, and combating illicit activities on its platform.
Partnerships with FBI and Secret Service
Ardoino revealed that Tether onboarded the United States Secret Service onto its proprietary compliance infrastructure and analytics platform in 2022. The company is also currently in the process of establishing a similar partnership with the FBI.
Through these collaborations, Tether provides law enforcement with insights into transaction flows and the ability to monitor criminal activities involving USDT in close to real-time. If suspicious patterns or addresses linked to sanctioned persons or organizations are identified, Tether works with the agencies to freeze relevant funds and wallet addresses.
Prior Assistance to Law Enforcement
In his letters, Ardoino disclosed that Tether had previously assisted the Department of Justice, Secret Service, and FBI in freezing over 300 wallets containing roughly 435 million USDT that were linked to sanctioned entities or criminal schemes.
While the CEO acknowledged not all frozen wallets still held funds at the time of publication, some did contain tens of thousands of USDT each. This underscored Tether's ongoing role in supporting international efforts to clamp down on illicit usage of cryptocurrencies.
Commitment to Compliance and Integrity
By publicly detailing its law enforcement partnerships and prior cases of assistance, Ardoino aimed to provide lawmakers and regulators with transparency into Tether's operations.
The disclosures reflect the company's strong commitment to safeguarding the integrity of USDT by leveraging relevant data and collaborating with authorities.