Over the past two years, Tether froze $329B of USDT and blacklisted 7,268 wallet addresses. In the same period, Circle’s USDC froze only $190M and blocked 372 addresses.
These figures illustrate a sharp contrast in how the two issuers cooperate with law enforcement in the stablecoin market. Tether’s actions appear more aggressive, while Circle’s approach is comparatively restrained, underscoring a regulatory divergence within the sector.
The reasons behind the gap may include differing risk policies, compliance practices, and internal controls. As regulators intensify oversight of stablecoins, market participants should monitor how enforcement behavior shapes liquidity and trust. The divergent strategies could influence user experience and market dynamics going forward.
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