Stablecoin issuer Tether has confirmed it froze
$544 million in crypto assets linked to Turkish “betting baron”
Veysel Sahin, following a request from authorities in Istanbul.
At the end of January, the Istanbul Prosecutor’s Office announced the seizure of crypto assets worth $544m as part of a broader investigation. At the time, officials did not disclose which exchange or entity executed the freeze. It has now emerged that the action was carried out by Tether itself, the issuer of USDT.
“We acted in accordance with the law”
Tether CEO Paolo Ardoino commented:
“Law enforcement contacted us, shared specific information, we reviewed it and acted in accordance with the laws of the country.”
The case underscores the increasing cooperation between crypto companies and national regulators.
A broader enforcement trend
By 2026, Tether says it has assisted authorities in:
- 1,800 investigations
- Across 62 countries
- Freezing a total of $3.4 billion in stablecoins
