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Arbitrum Cryptocurrency Custody Case Lawyer Strikes Again, Seeks Court Order for Tether to Transfer $344 Million

MeNews
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ME News Report, May 15 (UTC+8), according to court documents, lawyer Charles Gerstein, who led the Arbitrum crypto asset seizure case, recently filed a motion with the federal court requesting an order for Tether to transfer approximately $344 million worth of USDT it has frozen to victims with unpaid terrorism-related judgments. These USDT were previously frozen due to links with Iran's 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 satisfy long-standing unpaid judgments against Iran. (Source: BlockBeats)
ARB-4.29%
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FeeswitchWhisperer
· 3h ago
Tether is now the SWIFT of the crypto world, freezing funds instantly when needed.
View OriginalReply0
0XNightRun
· 3h ago
If this move succeeds, Tether's freezing mechanism will probably be scrutinized by various lawyers in the future.
View OriginalReply0
On-ChainCheatSheetKing
· 3h ago
Legal fees are estimated to be substantial; everyone wants a bite of the 344 million-dollar Bitcoin.
View OriginalReply0
MorningLightInAGlassBottle
· 3h ago
The victims waited so long; finally receiving real money counts as delayed justice.
View OriginalReply0
LatencyLullaby
· 3h ago
344M USDT can be transferred instantly? Tether's freezing power is greater than some countries' central banks.
View OriginalReply0
LintCollector
· 3h ago
So, who actually owns the frozen stablecoins? The legal gaps are too significant.
View OriginalReply0
CandleSitter
· 3h ago
The assets on Arbitrum can be governed by the federal court, on-chain sovereignty is just a joke
View OriginalReply0
BlueberryStakingMachine
· 3h ago
I need to remember the name CharlesGerstein, so I can contact him for rights protection in the future.
View OriginalReply0

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