Binance has joined as the first member of T3+, an expanded effort from the T3 Financial Crime Unit founded by Tron, Tether, and blockchain analytics firm TRM Labs. The move comes as TRON founder Justin Sun announces that the organization has helped freeze over $250 million in criminal assets less than a year after launch.
T3+ will function as a “public-private” collaboration between industry actors and law enforcement agencies around the world. The end goal is to speed up cross-border investigations and improve monitoring capabilities by working directly with exchanges, financial institutions, and other stakeholders.
Global Head of the Financial Intelligence Unit at Binance, Nils Andersen-Röed, referred to the effort as “proactive collaboration.”
“Freezing over $250 million in illicit assets in less than a year is a powerful testament to what’s possible when the industry comes together with a shared goal,” Paolo Ardoino, CEO of Tether, said in a statement on Tuesday.
In January, T3 said they had frozen $130 million worth of USDT, meaning the group’s total nearly doubled in the span of eight months. The group also said it has monitored over $3 billion in transactions since launching in September 2024.
Earlier this year, TRM Labs reported that illicit crypto volume was down 24% since 2023 to $45 billion, representing just 0.4% of overall crypto transactions. TRON reportedly experienced the most significant decline in illicit activity, with illicit volume dropping by $6 billion.
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