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US Authorities Seize $89 Million Linked to Tether Partner EQIBank
The assets represent about 80% of EQIBank’s currency holdings as the institution faces liquidation risk tied to litigation involving Capstone Ltd.
US law enforcement has seized about $89 million in assets linked to EQIBank, putting the Tether-connected bank at risk of liquidation.
The seized assets represent roughly 80% of EQIBank’s currency holdings. The bank’s liquidation risk is tied to litigation involving payment processor Capstone Ltd.
Tether said its exposure to EQIBank accounts for less than 0.034% of its total assets. It did not disclose the amount held at the bank.
The seizure places most of EQIBank’s reported currency holdings under control of US authorities while legal proceedings involving Capstone continue.
