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Arbitrum crypto custody case lawyer strikes again, seeking court order for Tether to transfer $344 million in frozen USDT
Golden Finance reports that on May 15, lawyer Charles Gerstein, who is leading the Arbitrum crypto asset seizure case, filed a petition with the federal court requesting an order for Tether to transfer approximately $344 million worth of USDT that it has frozen to victims with unpaid terrorism-related judgments. This batch of USDT was previously frozen due to its association with the Iranian Islamic Revolutionary Guard Corps (IRGC), which is sanctioned by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). Gerstein argued that Tether should use these frozen assets to settle long-standing unpaid judgments against Iran.