Tether Minimizes EQIBank Exposure Following US Asset Seizure

Tether has stated that its exposure to offshore banking partner EQIBank is less than 0.034% of its total group assets, following a U.S. government effort to seize funds linked to EQIBank's payment processor, Capstone. While Tether confirmed that EQIBank facilitates USDT purchases and redemptions, it denied any knowledge of the alleged misconduct by Capstone. Based on Tether's reported asset base of approximately $187.75 billion, the exposure is estimated to be under $64 million. Federal authorities are seeking the forfeiture of roughly $83 million in bank accounts and 1.18 million USDT associated with Capstone.