In 2021, Tether blacklisted a wallet that we'll refer to as 0xf9. At the moment of the blacklist, that wallet held approximately 200K USDT. For 2 years, there was multiple attempts to remove the blacklist initiated by 0xf9 but with no success. Only in 2023, Tether decided to remove 0xF9 from the blacklist.
One funny element to the story is that Tether refers to blacklisted users as "evilUser", but besides that, it also proves that they hold a lot of power over our wallets. 0xf9 understood that and swapped their USDT for DAI. The full story is in this Twitter thread.
I believe stablecoins should be censorship-resistant as Tether's power opens up the path for more totalitarian measures. What do you think?
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