Senate Report Says 84 Iran-Linked Wallets Used Tether

A report led by Sen. Richard Blumenthal says 84 of 846 cryptocurrency wallets sanctioned by the United States or Israel in connection with Iran had transacted in Tether’s USDT, a dollar-pegged stablecoin. The Senate Democrats’ report alleges the token was used to move funds across borders and support Iran’s finances under sanctions, as well as in networks connected to groups including Hezbollah. The report was published Monday by Democrats on the Senate Permanent Subcommittee on Investigations. Blumenthal, the subcommittee’s ranking member, called on the Treasury and Justice departments to investigate Tether. The report argues that USDT has become part of an Iranian shadow-banking network. Its allegations are not independently established by the materials provided, and the report’s findings do not specify how much USDT moved through the identified wallets before they were frozen. Tether said it cooperated with U.S. authorities and supported freezing nearly $550 million in Iran-linked USDT in 2026. The company listed two actions: a $344 million freeze in April involving wallets later tied by U.S.