USDT
+0.0%Tether reports minimal exposure to bank linked to US seizure
Image: CointelegraphUS prosecutors alleged that an unlicensed payments business illegally transferred funds for EQIBank. Tether holds assets at EQIBank and stated its exposure is below 0.034% of its total group assets. Federal authorities seized funds associated with the payments company Capstone. Tether stated it had no knowledge of the alleged conduct by Capstone. EQIBank provided banking services connected with USDT purchases and redemptions.
Key points
- US prosecutors alleged that EQIBank directed a payments business to illegally transfer funds.
- Tether confirmed it holds assets at EQIBank and stated its exposure is below 0.034% of its total group assets.
- Federal authorities filed a complaint involving a payment processor and seized funds in associated accounts.
- Tether stated it had no knowledge of the alleged conduct by the payments business.
Why it matters
Stablecoin reserves and fiat flows interact with conventional financial institutions. This creates counterparty risk when intermediaries face legal actions or asset seizures, even when the token operates normally on public blockchains.
What's unclear
The actual dollar amount of Tether assets held at EQIBank has not been disclosed.
Price context · USDT
At publication
$0.9998
Now
$0.9998
Change since
+0.01%
7 days · dashed line = publication
Sources · 2 publishers
Bitcoinist
Tier 2
Tether Says EQIBank Exposure Is Below 0.034% After US Asset Seizure
Coverage timeline
- First reported by Cointelegraph
- Confirmed by Bitcoinist
- CryptoVideos brief published
How this brief was made. Our system found this event in 2 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
