Conduit sues Tether over $2.76 million freeze, says it has ‘no legal entitlement’ to funds

60-second summary

Conduit files a lawsuit against Tether in New York federal court, claiming the USDT issuer froze $2.76 million of its assets for more than a year without justification and asserting Tether has “no legal entitlement” to retain the funds; the case highlights regulatory scrutiny on stablecoin custodians and could pressure the industry toward clearer compliance and transparency standards.