About $89 Million in Assets Seized, Tether Partner Bank EQIBank Faces Liquidation Risk

Odaily News: A portion of Tether's funds is trapped at its partner bank EQIBank. U.S. law enforcement has seized approximately $89 million in assets related to EQIBank, accounting for about 80% of its currency holdings. The bank faces liquidation risk due to a securities fraud lawsuit involving payment processor Capstone Ltd. Tether stated that its exposure at EQIBank represents less than 0.034% of its total assets, without disclosing the specific amount.