Tether Denies Involvement in EQIBank Asset Seizure as Exposure Revealed

Tether, the issuer of the popular stablecoin USDT, has found itself at the center of a controversy after U.S. authorities seized assets connected to its banking partner EQIBank.

The legal action involves Capstone Limited, a payment processor used by EQIBank to move customer funds through U.S. banking channels.

According to court filings, federal authorities have sought forfeiture of assets held in accounts associated with Capstone, totaling roughly $83 million and approximately 1.18 million USDT from cryptocurrency addresses.