Tether Reports Limited Exposure Amid $84M Seizure by US Authorities
- Tether confirmed it holds assets at EQIBank, which represents only 0.034% of its total assets.
- The US Department of Justice froze approximately $84 million in accounts belonging to Capstone, a payments company linked to Tether.
- Capstone is accused of operating without a license and facilitating transactions for “hundreds” of individuals on behalf of Tether and Bitfinex.
- As of last week, the market capitalization of Tether’s USDT stablecoin stood at about $184 billion.
Tether has stated that it had no knowledge of the alleged conduct related to Capstone and emphasized its limited exposure from the bank involved in the Justice Department’s complaint. The implications for Tether’s customers remain unclear following the seizure.
With a market cap nearing $184 billion, Tether’s response highlights its minimal exposure to the ongoing legal issues surrounding Capstone and EQIBank.(Source)
