Tether Says EQIBank Exposure Is Below 0.034% After US Asset Seizure

Tether said its exposure to EQIBank is less than 0.034% of the company’s total group assets after U.S. authorities moved to seize funds tied to the bank’s payment processing network. The case centers on Capstone Limited, a processor used by EQIBank to route customer funds through U.S. banking channels. Court filings refer to tens of millions of dollars in bank accounts and additional USDT connected to the probe. EQIBank has warned that losing access to the funds could affect its operations. Tether said it had no knowledge of the conduct alleged by prosecutors and did not disclose the exact amount it holds with EQIBank. The episode highlights that stablecoins still rely on banks, custodians, and payment processors for fiat movement even when token transfers themselves occur on blockchain networks.