$84M Seizure Exposes Complicated Route Connecting Tether Customers and Caribbean Bank

U.S. prosecutors have seized $84.2 million in assets linked to Capstone Limited, a payments company used by EQIBank, a banking partner of Tether and Bitfinex.

Capstone provided payment access to EQIBank, allowing the bank to process U.S. dollar payments for customers connected to Tether and Bitfinex.

Tether claims its exposure to EQIBank is below 0.034% of group assets, but the seizure poses a significant threat to EQIBank's operations, which are dependent on access to these funds.