Tether Downplays Exposure to EQIBank Following $89 Million Asset Seizure

Tether stated that its exposure to EQIBank represents less than 0.034% of its total group assets, following reports that U.S. prosecutors seized $89 million from the bank's payment processor, Capstone. The seizure, which accounts for roughly 80% of EQIBank's monetary assets, stems from allegations that Capstone made false statements to banks. Tether, which previously used EQIBank for USDT-related wire transfers, claims it was unaware of the alleged misconduct by Capstone.