Cross border payment company Conduit sues Tether, accusing it of unreasonably freezing $2.76 million in USDT

Cross border payment company Conduit has filed a lawsuit against Tether in the Southern District of New York Federal Court, accusing Tether of unreasonably freezing $2.76 million in USDT in its treasury wallet since September 24, 2025, and refusing to unfreeze it to this day. Conduit stated that the wallet did not hold any third-party Onix funds involved in the case, and the freezing decision was independently made by Tether's T3 financial crime department, which led to the company being in a liquidity crisis and forced to lay off employees and close offices. (Source: Decrypt)