Tether’s USDT stablecoin was part of a failed oil trade that reportedly cost a Polish energy giant $230 million in late 2023.
Update, Sept.17, 1:17 pm UTC: This article has been updated to include comments from an Orlen spokesperson.
The world’s largest stablecoin by market cap, Tether’s USDt, was reportedly used in a failed Venezuelan oil trade that cost Poland’s largest energy giant $230 million in late 2023, according to the Financial Times.
That was after the Caracas-based state oil company, PDVSA, began demanding partial payments in USDT as a workaround to US financial sanctions.
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