THORChain exec accuses Tether of temporarily freezing USDT vaults
60-second summary
THORChain co‑founder Chad Barraford alleges Tether temporarily froze USDT vaults, then unfroze them without explanation, disrupting liquidity for traders. He claims the abrupt action halted cross‑chain swaps and caused uncertainty among users relying on stablecoin bridges. This episode highlights governance risks in decentralized finance, prompting investors to scrutinize custodial practices and potentially dampening market confidence in USDT‑linked protocols.
Chad Barraford, technical co-founder of the network, said that the funds were frozen and then unfrozen without explanation.