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Payments firm Conduit Technology has filed suit against Tether in New York, alleging the stablecoin issuer froze $2.76 million of its working capital for over a year without justification.
A civil forfeiture complaint filed on July 15 targets $84.2 million held by Capstone Ltd., which prosecutors allege acted as an intermediary for transfers connected to Tether and Bitfinex, as EQIBank's bid to recover the frozen funds was rejected in California.
Prosecutors in Manhattan and DOJ's Criminal Division are examining whether Binance knew about and allowed transactions tied to Iranian oil sales, following a $61 million civil forfeiture case.