Tether Shrugs Off EQIBank Seizure with Limited Exposure

Tether has confirmed that it maintains funds at EQIBank, a Dominica-licensed lender facing a major U.S. asset seizure.

The stablecoin issuer said its exposure to EQIBank is extremely limited, accounting for less than 0.034% of its total assets, which stood at $187.75 billion as of June.

This means the actual exposure could be substantially lower than the upper-bound estimate of approximately $63.8 million.

EQIBank has described the seizure as far more significant for its own balance sheet, with around 80% of its monetary holdings being seized, totaling about $89 million.