Tether Says EQIBank Exposure Is 'Limited' After US Seizes Assets Tied to the Bank
Tether said its exposure to EQIBank is limited following a US asset seizure tied to the bank, according to CoinDesk. The stablecoin issuer said the exposure amounts to below Tether Says EQIBank Exposure Is Below 0.034% of Group Assets.
of its group assets, according to The Defiant.
The dollar figures tied to the seizure vary by outlet. CoinDesk put the seized assets at Tether confirms minimal EQIBank exposure following $89M US asset seizure.
, while Cointelegraph cited an Tether says it had ‘limited’ exposure to bank linked to $84M US seizure.
figure. The Defiant reported that a federal court order lists A federal court order lists $79.1 million seized.
as seized.
According to Cointelegraph, US prosecutors allege that a payments business illegally transferred hundreds of millions of dollars at the direction of EQIBank, an institution where Tether holds some assets. Tether has not been accused of wrongdoing in the case; the company’s public statements have focused on quantifying and minimizing its financial exposure to EQIBank rather than addressing the underlying fraud allegations, according to CoinDesk and The Defiant.
Sources: CoinDesk, The Defiant, Cointelegraph
This article is for information only and is not financial advice.
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