Crypto25 September, 20262 min read
Tether Says EQIBank Exposure Stays Below $64 Million After U.S. Seizures
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Exposure to EQIBank capped below $64 million, about 0.034% of assets. U.S. seizure totaled roughly $84–89 million tied to CapStone-linked activity.
14 outlets told this the same way.
Seizure, ceiling, exposure
Tether confirmed that its maximum exposure limit to EQIBank is below $64 million after U.S. asset seizures totaled $89 million, and the company said its exposure is limited to deposit accounts and lines of credit that do not exceed $64 million. Tether said the exposure figure is based on the valuation of the assets and liabilities it holds with EQIBank, and it framed the disclosure as a risk mitigation measure.
Tether said the exposure represents less than 0.034% of its total assets, while Tether had not disclosed a dollar figure or confirmed the report directly. BitKE described the case as involving U.S. prosecutors seeking to forfeit about Tether confirmed that EQIBank provided banking services including wire transfers connected to purchases and redemptions of USDT.
Counterparty risk debate
Cointelegraph reported that Tether confirmed it was a customer of EQIBank and that the amount held at the bank represented 0.034% of the group’s total assets, while Cointelegraph also reported that U.S. prosecutors froze about $84 million in Capstone’s accounts as part of the complaint. Tether had “no knowledge” of the conduct by Capstone alleged by the Department of Justice, and it said Tether’s spokesperson told it that Tether had “no knowledge” of that conduct.
Crypto News confirmed its exposure to EQIBank remains limited to “less than 0.034% of the assets of the group,” while Crypto News also described EQIBank as warning it could face liquidation if it loses access to the funds. BitKE described the case as involving U.S. prosecutors seeking to forfeit about Tether confirmed that EQIBank provided banking services including wire transfers connected to purchases and redemptions of USDT.
Court fight and stakes
ForkLog said U.S. authorities seized assets worth approximately $84.2 million linked to Capstone Limited, and it listed $79.1 million in a Capstone account at Wells Fargo Securities, $1.86 million at Wells Fargo Bank, and $2.06 million at JPMorgan Chase. ForkLog reported that on July 15 U.S. prosecutors filed a separate civil lawsuit seeking forfeiture of approximately $84.2 million linked to Capstone accounts and two USDT addresses, and it said a federal judge denied EQIBank’s motion for the return of the property on July 16.
ForkLog said a final decision on the ownership of the funds had not yet been made, and it added that on September 14 the court ordered notice of the case to be published on forfeiture.gov for 30 days. Startup Fortune said EQIBank provided banking services to Tether, including processing wire transfers connected to USDT purchases and redemptions, and it tied the stakes to whether the bank’s potential liquidation could affect the specific banking channel used for those transfers.