Tether reports minimal exposure to EQIBank after US asset seizure

Tether has disclosed minimal exposure to EQIBank following an approximately $89 million asset seizure by US authorities. The company stated that its position is roughly $64 million, representing less than 0.034% of its total group assets. Tether emphasized that the seizure will not impact the stability of USDT.

The US government filed a civil forfeiture complaint involving EQIBank and the payment processor Capstone Limited. While court records identify approximately $84.2 million in property and bank accounts held in Capstone's name, the records do not explicitly identify these assets as belonging to Tether.

Questions remain regarding whether Tether's exposure involves assets required for USDT redemptions, as the company has not provided a specific dollar balance or a direct link between its EQIBank exposure and USDT reserves. Despite the news, the cryptocurrency market showed little volatility, with Bitcoin and Ethereum prices remaining relatively stable.