Tether blacklists FTX’s wallet with 46 million USDT on the TRON network

Earlier, information appeared on the web that Alameda Research, the company associated with FTX, is trying to short the asset

10.11.2022 - 15:45

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What’s new? According to Whale Alert, on November 10, 14:11 UTC, a wallet belonging to the FTX crypto exchange was blacklisted by Tether (the issuer of the USDT stablecoin). At the time of the freeze, the wallet had 46,36 million USDT on the TRON blockchain.

❄ An address with a balance of 46,360,701 #USDT (46,274,472 USD) has just been frozen!https://t.co/W958MBbhA9 — Whale Alert (@whale_alert) November 10, 2022

More details on the situation. After the collapse of FTX, rumors surfaced online that Alameda Research, affiliated with the exchange’s head Sam Bankman-Fried, decided to crash the market by shorting USDT.

A Twitter user found transactions that he believes indicate that Alameda was involved in the loss of USDT’s peg to the dollar. Amid the rumors, the TRON DAO Reserve announced its intention to buy 300 million USDT from the market to maintain the stability of the asset.

According to one of Tether’s executives, the company began receiving requests from law enforcement agencies to temporarily freeze assets while they investigate.

For what led to the lightning-fast collapse of the FTX exchange and how events will develop further, read the GetBlock Magazine’s article.

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