Tether Freezes $500 Million in Assets Linked to Turkish Gambling Ring

Core Insights - Tether has frozen over $500 million in digital assets linked to an illegal gambling and money-laundering operation in Turkey [1][2] - This action represents one of the largest single-asset seizures in the cryptocurrency sector, targeting assets owned by Veysel Sahin, accused of running a vast illegal betting network [2] - Tether's CEO confirmed the company's increasing cooperation with international law enforcement, marking a significant shift in the firm's approach to regulatory compliance [3][4] Company Actions - Tether has repositioned itself as a proactive partner to global law enforcement, having previously faced criticism for a lack of transparency [4] - The company has frozen more than $3 billion in assets since its inception, including a previous freeze of over $180 million earlier this year [4] - Tether's USDT token, with a circulating supply exceeding $187 billion, serves as a primary liquidity source for the global cryptocurrency market, facilitating rapid fund transfers between exchanges [5] Financial Performance and Investments - Tether reported profits of $10 billion in 2025 and is diversifying its USDT reserves through various investments, including $150 million in Gold.com and $100 million in Anchorage Digital [6][7] - The firm is expanding its portfolio beyond stablecoins, investing in sectors such as sports, Bitcoin mining, decentralized communications, and artificial intelligence [7]