“Polish Energy Giant Loses $230M in Oil Deal After USDT Payment Dispute, FT Reveals” — what this page in the network covers. A high-profile oil transaction involving Polish energy firm PGNiG collapsed in late 2023, resulting in a staggering $230 million loss, according to the Financial Times. The deal, which was structured using Tether’s USDT stablecoin as part of the payment mechanism, unraveled due to disputes over settlement clarity and regulatory uncertainty surrounding cryptocurrency transactions in commodity markets. While PGNiG confirmed the failed trade, it did not disclose further details on the counterparty or the exact nature of the breakdown, but sources indicate that reliance on USDT—despite its widespread use—created friction in cross-border energy financing.
The incident underscores growing risks when blockchain-based assets intersect with traditional commodity trading frameworks. The involvement of Tether, the company behind USDT, highlights the expanding role of stablecoins in global energy finance, even as regulators remain cautious. For the complete material, the listing points back to the source inside the network.