Tether Sued for Allegedly Freezing $42M Before a Warrant

— Two Thai businessmen are suing Tether for allegedly freezing $42.4 million USDT months before U.S. authorities obtained a seizure warrant, raising questions about token issuer control over private wallets.

— Tether claims the lawsuit is baseless and says it cooperates with global law enforcement; the frozen funds are tied to a Justice Department investigation into $61 million in USDT allegedly stolen through pig butchering scams.

— U.S.-spot XRP ETFs have logged 11 consecutive days of inflows totaling approximately $170 million, with cumulative net inflows since launch at around $1.68 billion.

— Goldman Sachs disclosed approximately $87 million in XRP exposure at the end of Q2, though this likely reflects market-making and client orders rather than a directional institutional bet.

— The SEC convened a September 17th roundtable on 24-hour trading for Wall Street, bringing together the NYSE, NASDAQ, Citadel Securities, DTCC, and Robinhood to discuss extending continuous trading beyond crypto markets.

— The SEC proposed a rule redefining transfer agents to account for blockchain technology, allowing blockchain chains to serve as official records of securities ownership.

— Understand that stablecoin issuers can potentially freeze tokens in private wallets based on informal law enforcement requests before formal legal process; this highlights custody and counterparty risk for USDT holders.

— Monitor regulatory developments around blockchain-based transfer agents and 24-hour trading frameworks, as these could reshape institutional trading infrastructure and market access for digital assets.