Tether · U.S. · Financial Times · The Information · CoinDesk
Tether confirms minimal EQIBank exposure following $89 million US asset seizure
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
★ Tier-1 Source
Stablecoin issuer Tether said it has little exposure to a lender seized by U.S. authorities on Thursday.
Key facts
- EQIBank says roughly $89 million was seized, equal to about 80% of its monetary holdings, putting the lender at risk of liquidation, according to FT
- Based on Tether’s June report of $187.75 billion in group assets, the percentage the spokesperson said was at risk would put the EQIBank exposure at roughly $64 million
- Tether said assets it holds at EQIBank represent less than 0.034% of its total assets, after the Dominica-licensed lender was caught up in a U.S. asset seizure that it said could force it
- EQIBank provided banking services to Tether, including processing wire transfers linked to purchases and redemptions of USDT
Summary
Tether said its exposure to EQIBank, a Dominica-licensed lender caught in a U.S. asset seizure, amounts to less than 0.034 percent of its total assets. Based on Tether’s reported $187.75 billion in assets, its exposure could be roughly $64 million, though the company did not disclose an exact figure. The seizure reportedly affected about $89 million, or 80 percent, of EQIBank’s monetary holdings, highlighting counterparty risks for stablecoin issuers but posing no apparent immediate threat to USDT’s reserves or dollar peg. Tether said assets it holds at EQIBank represent less than 0.034% of its total assets, after the Dominica-licensed lender was caught up in a U.S. asset seizure that it said could force it into liquidation, according to reports by the Financial Times and The Information.