Standard Chartered Bank: Stablecoins Pose a Real Threat to Bank Deposits

A former Huobi executive was acquitted by a Hong Kong High Court ruling that found the charges to be unsubstantiated; allegations of Tether dark-pool trading were not substantiated

On April 24, the Hong Kong High Court’s seven-member jury, by a majority vote, found not guilty of allegations against Chen Bo-liang, a former senior manager of cryptocurrency exchange Huobi (now renamed HTX), concerning accusations that he used a pseudonymous personal account in 2020 to trade on Huobi’s platform dark pool. The court also ruled not guilty on all charges, including six counts of accessing a computer with criminal or dishonest intent and one count of money laundering. The amount involved relates to 5 million Tether (USDT) tokens.

Tether Mints $3 Billion USDT in Past Week, Abraxas Capital Receives $2.89 Billion

Gate News message, April 24 — Over the past week, Tether minted $3 billion USDT, with Abraxas Capital receiving $2.89 billion from Tether Treasury, according to on-chain monitoring data from Lookonchain.

Tether Freezes $344M USDt in Compliance with US Authorities

Tether froze over US$344 million in USDt across two Tron network wallets on April 23, 2026, in coordination with US law enforcement and the Office of Foreign Assets Control (OFAC), according to an announcement by the company. The action targeted addresses holding approximately US$213 million and US$

U.S. sanctions Cambodian officials’ billion-dollar scam resort! Tether freezes more than $344 million in USDT

The U.S. Treasury Department and the Department of Justice have recently launched a joint law enforcement action targeting “pig butchering” romance scams involving cryptocurrencies that have become increasingly rampant in Southeast Asia. In an official announcement, the government has imposed sanctions on Cambodian Senator Kok An and 28 individuals and entities within his criminal network, accusing them of using political influence and their network of casino compounds to shelter large-scale fraud and human trafficking activities. Estimates indicate that these scam operations have led to losses for U.S. residents of as much as $10 billion in a single year. In conjunction with this crackdown, the stablecoin issuer Rether has also frozen more than $344 million in digital assets involved in the case. Romance “Pig Butchering” scams: U.S. residents lose over $10 billion in a single year In recent years, multinational criminal organizations based in Southeast Asia have made extensive use of the scam method known as “Pig Butchering.” Scammers will, through social media or messaging apps, spend months

Gate Daily Report (April 24): US Treasury sanctions Cambodian crypto “pig butchering” scams; Tether mints an additional 1 billion USDT

Bitcoin (BTC) rebound momentum is weakening, with a temporary quote around $78,030 as of April 24. The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned a Cambodian politician linked to a crypto “pig butchering” scam center. Tether issued another 1 billion USDT on the Ethereum network; over the past 5 days, it has issued a total of 3 billion USDT on the Ethereum network.

Tether Treasury Mints 1 Billion USDT on Ethereum Network

Gate News message, April 24 — Tether Treasury minted 1 billion USDT on the Ethereum network early today at 01:24 UTC+8, according to Whale Alert monitoring data.