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Benzinga
Benzinga
Business
Adrian Zmudzinski

Ukraine's Call For Help Disregarded By Tether

Ukraine Mykhailo Fedorov COIN Paolo Ardoino Russia

Ukraine First Vice Prime Minister Mykhailo Fedorov requested in a Friday tweet that Tether — the operator of the Tether (CRYPTO: USDT) dollar-pegged stablecoin — and its CEO Paolo Ardoino put a stop on any transactions that involve Russia. Tether believes that no further action is needed on its part.

What Happened: After Fedorov's tweet asking Tether to stop all transactions with Russian nationals, Tether responded indirectly through a statement claiming the organization "conducts constant market monitoring to ensure that there are no irregular movements or measures that might be in contravention of international sanctions," according to a Friday Bloomberg report. Bloomberg points out most of the ruble-denominated crypto trading volume happens in Tether — not Bitcoin.

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