Tether says its exposure to EQIBank was limited after US prosecutors froze $84 million from Capstone

Tether says it had “limited” exposure to EQIBank, the bank named in a US Department of Justice complaint tied to a payments business that allegedly moved hundreds of millions of dollars. For high-risk PSPs, the point is simple: if your banking chain touches an enforcement action, even a small balance can turn into a reputational and operational headache.

1. Tether told Cointelegraph it had “no knowledge” of the alleged conduct described in the US complaint, after reports linked Tether and Bitfinex to Capstone, a Montana-based payments business.
2. The company confirmed it was a customer of EQIBank, which the Justice Department alleged directed Capstone to send and receive money. Tether said the amount held at EQIBank represented 0.034% of the group’s total assets.
3. US prosecutors reportedly froze about $84 million in Capstone’s accounts as part of the civil forfeiture complaint. Justice Department officials alleged that Capstone was unlicensed and had made payments to “hundreds of individuals and entities” on behalf of Tether and Bitfinex, according to the Financial Times.
4. A Tether spokesperson did not respond to a question about how the seizure could affect its customers. As of Friday, USDT had a market capitalization of about $184 billion.