Tether funds at partner EQIBank frozen as U.S. seizes $89M; bank faces liquidation risk
AI Market Summary
U.S. law enforcement seizure of ~$89M tied to EQIBank, a reported Tether partner, raises counterparty and operational risk concerns around stablecoin banking rails. While Tether says exposure is <0.034% of total assets, the headline reinforces scrutiny of reserve custody and partner risk, which can pressure broader crypto risk appetite and liquidity conditions in the near term.
Impact level
● Medium
Affected assets
BTC/USDT+0.25%
AI Insight · BTC/USDTAI Insight
▼ Bearish
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ME News reported that on Sept. 25 (UTC+8), part of Tether's funds held at partner bank EQIBank was frozen. U.S. law enforcement has seized about $89 million in assets tied to EQIBank, an amount said to represent roughly 80% of the bank's monetary holdings, as EQIBank faces potential liquidation linked to a securities fraud lawsuit involving payment processor Capstone Ltd. Tether said its exposure to EQIBank is less than 0.034% of its total assets, without providing a specific figure. (Source: ODAILY)
