Tether confirms minimal EQIBank exposure following $89M US asset seizure

Tether said assets it holds at EQIBank represent less than 0.034% of its total assets, after the Dominica-licensed lender was caught up in a U.S. asset seizure that it said could force it into liquidation, according to reports by the Financial Times and The Information .

“Tether had no knowledge of the conduct by Capstone alleged by the Department of Justice,” a Tether spokesperson told CoinDesk via email. The company said assets held at EQIBank were limited to “less than 0.034% of the assets of the group,” but did not disclose the exact dollar amount.

Based on Tether’s June report of $187.75 billion in group assets, the percentage the spokesperson said was at risk would put the EQIBank exposure at roughly $64 million.