Sanctioned Russian crypto exchange Garantex is announcing the suspension of its operations after Tether blocked its platform's wallets. In a new Telegram announcement on Thursday, the Russian exchange says that Tether has blocked Garantex's wallets, which contained over 2.5 billion rubles, about $28 million. “Dear users! We have bad news.

Stablecoin operator Tether has revealed that it has frozen $27 million in USDT on the sanctioned Russian crypto exchange, Garantex. The cryptocurrency exchange has also suspended all its trading and withdrawal services.

Bitcoin Cash (BCH) has experienced a remarkable 21% surge in recent trading sessions, drawing the attention of both traders and investors. At press time, the price of BCH stands at $387, inching closer to the critical $400 level.

Russian cryptocurrency exchange Garantex has temporarily suspended all its services after Tether froze $28 million worth of USDT held on the exchange. The announcement came via a Telegram post from Garantex on March 6, 2025, detailing the suspension of all operations, including cryptocurrency withdrawals. The exchange disclosed that Tether's action impacted wallets containing over 2.

Garantex, a Russian crypto exchange under US sanctions, accused Tether of attacking the Russian crypto market.

Tether, the largest stablecoin issuer, has immobilized roughly $28 million in USDT tokens on Garantex, a cryptocurrency platform based in Russia. This measure corresponds with the European Union's sanctions against Garantex, which allege ties to Russian governmental entities and illicit networks, particularly amid Russia's military operations in Ukraine.

Bitcoin price continued its resilience as it rose for three straight days and moved above the resistance at $90,000. This recovery is happening as Donald Trump prepares to unveil the Strategic Bitcoin Reserve during the White House crypto summit.

Sanctioned crypto exchange Garantex has halted operations following Tether's decision to freeze $27 million worth of USDT on the platform. In a March 6 announcement on Telegram, the exchange confirmed a temporary suspension of crypto trading and withdrawals, citing Tether's decision to freeze its funds.

Russian cryptocurrency exchange Garantex on Thursday said stablecoin Tether had blocked digital wallets on its platform holding more than 2.5 billion roubles ($28 million), forcing it to suspend operations days after coming under EU sanctions.

Story Highlights The live price of the Bitcoin Cash token is BCH crypto price may reach a potential high of around $701 this year. Bitcoin Cash price, with a potential surge, may reach up to $2,679 by 2030.

"Tether has entered the war against the Russian crypto market and blocked our wallets worth over 2.5 billion rubles," Garantex said.

Tether has frozen $27 million worth of USDT USDT linked to the Russian crypto exchange Garantex, which is under international sanctions.

Bitcoin Cash (BCH) has completely recovered from its recent market dip after soaring by about 47% over the past three days. BCH was trading at $392.8 at press time, marking a two-month high for the altcoin. Following the remarkable recovery, analysts are buzzing with excitement, drawing parallels to its explosive rally in late 2017.

Tether has recently made a significant decision that has shaken the cryptocurrency market in Russia.

Sanctioned crypto exchange Garantex has shut down its services shortly after Tether froze nearly 2.5 billion in worth of USDT in Russian rubles.

Crypto exchange Garantex has halted all trading and withdrawals after Tether froze almost $28 million of its stablecoin USDT tied to the platform.

Crypto exchange Garantex halted trading and withdrawals after Tether froze about $27 million of its stablecoin USDT tied to the platform.

Bitcoin Cash (BCH) has recorded a growth of 21%, leading analysts to question the sustainability of this trend.

Bitcoin Cash's price action reveals clues about what makes $414-$425 a good risk-reward area for short entries.

Tethers longtime CFO, Giancarlo Devasini, has stepped down and now serves as chairman, maintaining a low profile in Lugano, Switzerland. In contrast, Circle founder Jeremy Allaire actively engages with politicians and Wall Street executives, highlighting the ideological and business rivalry between the two stablecoin giants.

That loud and clear, collective sigh of relief you heard Wednesday was the sound of thousands of cryptocurrency investors, who were happy their assets generally moved in the right direction. Since Monday, the top names in the asset class had been sluggish at best; on Hump Day, many seemed to wake up.

Crypto prices were vibrant on Thursday morning as the market reacted to the positive tariff news from the United States, and as traders anticipated the upcoming crypto summit. Howard Lutnick, the Commerce Secretary, confirmed that Donald Trump will announce Strategic Crypto Reserves in that meeting.

A WSJ article delved into the contrasting styles between Tether's Giancarlo Devasini and Circle's Jeremey Allaire.

Despite the broader cryptocurrency market remaining bearish, several assets are witnessing increased capital inflows in the short term.

Bitcoin Cash has traded higher in the past 24 hours, surging by more than 30% to lead top gainers among the largest coins by market capitalization.

The stablecoin issuer Tether has hired a new chief financial officer (CFO) and committed to completing a full audit. The veteran finance executive Simon McWilliams will now serve as CFO for Tether, which issues the dollar-pegged USDT, the top stablecoin by market cap.

The European Securities and Markets Authority (ESMA) confirms custody and transfers of stablecoins are not restricted under MiCA. Crypto asset service providers of Europe must restrict offering stablecoin acquisition services.

Despite delistings, ESMA clarifies that custody and transfers of non-MiCA compliant stablecoins are not explicitly prohibited.

As Europe prepares for a heavy enforcement of the Markets in Crypto Assets (MiCA) law, crypto exchanges are moving to ensure compliance. Binance, the biggest crypto exchange by market cap, has announced plans to delist stablecoins for European users.

Chainlink (LINK) was also a top performer, gaining 8.6% from Tuesday.

The ESMA has clarified that the custody and transfers of stablecoins, such as USDT (Tether), are not restricted by the MiCA regulation.

Tether has appointed Simon McWilliams as its new Chief Financial Officer (CFO) to lead its efforts toward a full financial audit, reinforcing its commitment to transparency. The move comes as Tether expands its institutional reach.

The European Securities and Markets Authority confirmed that MiCA rules do not explicitly ban non-compliant stablecoin custody and transfers.

In two X posts published on March 2 and March 3, respectively, Tether CEO Paolo Ardonio shared his plan for solving the electricity hunger in Africa.

Ethena Labs' USDe continues to make moves to position itself as a logical alternative to USDC and USDT as the stablecoin competition heats up. The latest in a series of progressive moves Ethena Labs has made regarding USDe involves Bybit, one of the largest exchanges in the industry right now.

Crypto prices pared back some of the losses made earlier on Tuesday as the Trump administration appeared to walk back some of its tariff threats. Bitcoin jumped to $87,000, while the valuation of all coins rose to $2.88 trillion. The crypto fear and greed index remained in the fear zone.

TRON (TRX) has emerged as a dominant force in the world of stablecoin transfers, processing a staggering $11.4 billion in USDT (Tether) transactions. Recent data from CryptoQuant reveals that the blockchain has processed 1.89 million transactions, accounting for a significant portion of stablecoin activity in the market.

The new service is expected to rollout in June.

Top global crypto exchange Binance is delisting Tether's USDT and other stablecoins for European customers because the digital assets are not compliant with new regulations in those countries.

TRON dominates USDT transfers with $11.4B in inflows—will this trigger the next big market move?

TRON-based USDT increased its activity, and still expecting the launch of the no-fee feature. The token turned Binance into one of its biggest holders.

Binance is delisting several stablecoins, including USDT, for European Economic Area (EEA) residents due to non-compliance with MiCA regulations. USDT Woes Continue Top crypto exchange Binance announced on March 3 that it would delist several stablecoins not compliant with MiCA on its platforms used by residents in the European Economic Area (EEA).

Tether, the stablecoin giant, has announced the appointment of Simon McWilliams as its new Chief Financial Officer (CFO).

Binance plans to delist Tether's USDT to EU-based customers to comply with MiCA. European users will still be able to withdraw assets until midnight on March 31.

McWilliams will guide Tether toward greater transparency while longtime CFO Devasini transitions to Chairman. The stablecoin issuer holds over $113 billion in US debt but faces criticism over audit practices.

EU customers can convert their holding MiCA-compliant alternatives like USDC ahead of deadline.

Tether named Simon McWilliams as its new chief financial officer, aiming to enhance transparency and move towards a full financial audit.

Tether, Inc. hired Simon McWilliams as its new CFO, shifting Giancarlo Devasini into the role of Chairman for macro strategies.