Shea Levin — text status

Iran has increasingly used Tether’s USDT to evade U.S. sanctions and support a shadow banking system, according to a U.S. Senate investigation reviewed by The Wall Street Journal. The report found that 84% of 846 crypto wallets sanctioned by the U.S. conducted most or all of their transactions in USDT. The report alleges that Iranian entities have used the stablecoin for payments and to finance regional groups, including Hezbollah.