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According to blockchain analytics firm Elliptic, the Central Bank of Iran has purchased approximately 507 million USDT amid economic instability and widespread protests. Many signs indicate that these stablecoins are being used to support the rial, which is rapidly losing value.
The accumulation of USDT occurs as Iran's economy is unstable and protests spread. Following a security breach at the domestic exchange Nobitex, the USDT was transferred across multiple blockchains. Previously, Tether had frozen $37 million related to wallets suspected to belong to Iran.#JoinGateTradFitoWinGoldPack