Tether says EQIBank exposure below 0.034% after U.S. seizure
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Tether disclosed that its assets held at EQIBank were less than 0.034% of its group assets after U.S. authorities seized Capstone-linked funds and EQIBank faced liquidation risk. The case centers on roughly $84.2 million in Capstone-related assets, and EQIBank is described as a Dominica-licensed offshore digital bank with payment access tied to Tether and Bitfinex.
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What it means
Customers and counterparties connected to EQIBank would notice the fallout immediately because the bank faces liquidation risk after U.S. asset seizures, while Tether has said its exposure there is below 0.034% of group assets. The issue also reaches the wider stablecoin and offshore banking sector because EQIBank is described as a banking partner of Tether and Bitfinex, and the amount in play is tied to about $84.2 million in Capstone-linked assets.
In practice, the position changed from routine banking access through EQIBank to a situation where the bank faces liquidation risk after assets were seized in the United States. What remains the same from the disclosure is Tether’s stated exposure level: the company still places its EQIBank holdings at less than 0.034% of group assets.
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