Tether Caps EQIBank Exposure at 0.034% of Group Assets

Tether says assets it holds at EQIBank amount to less than 0.034% of its group assets, but it has not disclosed the balance or how much may be inaccessible. The disclosure comes as EQIBank contests a U.S. civil forfeiture case involving about $84.2 million in property linked to payment processor Capstone, and the bank says the government action affected about $89 million of its funds. Tether’s percentage ceiling is not a confirmed deposit figure. Applying it to the company’s reported $187.75 billion in assets as of June 30 yields an upper-bound reference of roughly $63.8 million; the actual amount could be lower. Tether has not said how much of its EQIBank-linked assets, if any, is currently frozen. A federal court order dated September 14 lists about $79.11 million in a Wells Fargo Securities account in Capstone’s name, another $1.86 million in a Wells Fargo account and about $2.06 million at JPMorgan Chase. Prosecutors also listed approximately $1.18 million in USDT across two cryptocurrency addresses. The listed property totals about $84.2 million and is the subject of the government’s forfeiture action.