Crypto Exchange Garantex Stops Amid Tether Sanctions

Garantex Halts Operations After Tether Blocks Wallets

• Garantex, a Russian crypto exchange, has suspended operations following Tether’s blocking of its wallets.
• The blocked wallets contained over 2.5 billion rubles, approximately $28 million.
• The European Union included Garantex in Russian sanctions last month.
• Tether has previously worked with regulators to disrupt USDT in sanctioned wallets.

Garantex announced the suspension of its services after Tether blocked its platform’s wallets containing over 2.5 billion rubles. This action follows the EU’s recent inclusion of Garantex in Russian sanctions.