An $84 million US asset seizure just sparked a large question for Tether
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
Tether has disclosed exposure to EQIBank as the bank fights a US seizure involving payment processor Capstone Limited, raising a question about access to assets that might back USDT.
Key facts
- As of June 30, Tether International reported $187.75 billion in assets and $183.64 billion in liabilities, an excess of $4.11 billion
- Combined at a $1 value for each USDT, that is about $84.2 million
- A court record lists about $83.03 million in three bank balances and roughly 1.18 million USDT at two addresses
- On Sept. 25, the stablecoin issuer told PYMNTS the exposure was less than 0.034% of the Tether group's assets
Summary
01 Tether disclosed exposure to EQIBank but gave no dollar balance or link to USDT reserves. 02 The forfeiture case lists about $84.2 million in property, but the court does not identify it as Tether’s. 03 The unresolved issue is whether Tether’s EQIBank exposure involves assets needed for USDT redemptions. The government filed a civil forfeiture complaint in July. Combined at a $1 value for each USDT, that is about $84.2 million.