Tether says EQIBank exposure is below 0.034% of group assets

  • Tether disclosed EQIBank exposure below 0.034% of group assets to PYMNTS.
  • Court records list about $84.2 million in assets in the Capstone forfeiture case.
  • Tether has not linked its EQIBank exposure to USDT reserves or reported a redemption halt.

Tether told PYMNTS on Sept. 25 that its exposure to EQIBank was less than 0.034% of the Tether group's assets, without disclosing a dollar amount or saying whether the funds support USDT. The disclosure comes as EQIBank challenges a U.S. seizure involving payment processor Capstone Limited. Court records list about $83.03 million in three bank balances and roughly 1.18 million USDT at two addresses, worth about $84.2 million combined at $1 per USDT. A later order identifies the bank accounts as held in Capstone's name, not Tether's, and EQIBank's separate motion to recover seized property was denied without resolving the ultimate forfeiture case or ownership. Tether's group-asset figure also cannot be directly compared with its published USDT reserve figures for Tether International. As of June 30, that issuer reported $187.75 billion in assets, $183.64 billion in liabilities and $4.11 billion in excess, but its attestation did not identify an EQIBank balance. The filings do not establish a reserve shortfall or an interruption to minting or redemptions; the unresolved issue is the size, ownership and accessibility of Tether's EQIBank exposure.

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