Tether Says Exposure Was Limited After $84 Million U.S. Seizure
The company said assets held at EQIBank represented 0.034% of its total group assets after prosecutors froze Capstone accounts.
Tether said its exposure to EQIBank was limited after U.S. prosecutors froze about $84 million in accounts linked to Capstone, a payments business named in a civil forfeiture complaint.
Tether confirmed it was a customer of EQIBank, which prosecutors alleged directed Capstone to send and receive money. The stablecoin issuer said assets held at the bank represented 0.034% of its total group assets.
Prosecutors alleged Capstone was unlicensed and transferred hundreds of millions of dollars on behalf of Tether, Bitfinex and other parties. Tether said it had “no knowledge” of the alleged conduct.
The seizure involved Capstone accounts, while EQIBank was identified as the bank connected to the alleged payment activity. Tether said assets held at EQIBank represented 0.034% of its total group assets.
