Conduit sues Tether over $2.76 million freeze, says it has ‘no legal entitlement’ to funds

Written and edited by the WorldPing NewsdeskPublished Updated Original reporting: The Block
Conduit sues Tether over $2.76 million freeze, says it has ‘no legal entitlement’ to fundsWorldPing
Image via The Block.

What happened

Conduit is suing Tether in NY federal court, alleging the USDT issuer froze $2.76 million of its funds for over a year without explanation.

Key facts

  • Conduit is suing Tether in NY federal court, alleging the USDT issuer froze $2.76 million of its funds for over a year without explanation.
  • Reported by The Block and published Tue, 06 Oct 2026 17:54:00 UTC.

Why it matters

Digital-asset markets react to catalysts within minutes, and liquidity, ETF flows and regulatory signals are usually what decide whether a move sticks.

What to watch next

  • Whether spot volume and open interest confirm the move
  • Liquidation clusters around the current price
  • ETF flow data and any regulatory follow-up

Coverage timeline

When each newsroom published on this story, oldest first — all times UTC.

  1. Fortitude expands Zcash mining push with up to $100 million equipment commitment

  2. Peter Thiel-backed Founders Fund leads a $5 million token buy in crypto collateral protocol Anvil

  3. Conduit sues Tether over $2.76 million freeze, says it has ‘no legal entitlement’ to funds

  4. Fortitude Bets Up to $100 Million on Bitmain Zcash Mining Hardware

Sources

The original report was published by The Block. WorldPing does not claim that reporting — this page summarises and contextualises it.

Read the full report at The Block

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