Tether freezes FTX’s $46M in USDT on the Tron blockchain at the request of law enforcement while investigations occur (Oliver Knight/CoinDesk)

Sam Reynolds / CoinDesk:
A New York judge orders Tether to produce documents related to the backing of USDT in a lawsuit claiming Tether conspired to issue USDT to pump bitcoin prices  —  The order relates to an ongoing lawsuit that alleges that unbacked USDT issuances have caused $1.4 trillion in damage to the market.

Nelson Wang / CoinDesk:
Stablecoin issuer Tether claims to have reduced its commercial paper holdings to zero, replaced with US Treasury bills, after saying it would by the end of 2022  —  The company has been gradually replacing its commercial paper holdings with U.S. Treasury bills.

Parikshit Mishra / CoinDesk:
USDC stablecoin developer Circle ends its planned SPAC merger with Concord Acquisition Corp., announced in July 2021, by mutual agreement  —  The firm had announced plans to go public in July of 2021.  —  Circle, the company behind stablecoin USDC, has terminated its agreement …

Lydia Beyoud / Bloomberg:
The Bahamas Securities Commission freezes the assets of FTX Digital Markets and “related parties” and appoints an attorney as a provisional liquidator  —  The Bahamas Securities Commission has frozen the assets of FTX Digital Markets “and related parties.”

Jamie Crawley / CoinDesk:
Binance will stop supporting the world’s second biggest stablecoin USDC and convert users’ USDC, USDP, and TUSD into its own stablecoin BUSD on September 29  —  The action effectively removes the world’s second biggest stablecoin USDC as a tradeable asset on Binance’s platform.

Kurt Wagner / Bloomberg:
Source: Zuckerberg told staff in a weekly Q&A that Meta will freeze hiring, restructure some teams, and reduce budgets across teams, citing economic conditions  —  Meta Platforms Inc., the owner of Facebook and Instagram, said it will freeze hiring and restructure some teams in an effort to cut costs and shift priorities.