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09/26/2026

Tether Downplays Impact of EQIBank Seizure, Citing Less Than 0.034% Exposure

What happened: Following the DOJ's $84.

Tether Downplays Impact of EQIBank Seizure, Citing Less Than 0.034% Exposure

What happened: Following the DOJ's $84.2 million seizure from EQIBank-linked accounts, Tether issued a statement asserting that its exposure to EQIBank represents less than 0.034% of its $187.75 billion in total assets (a maximum of ~$64 million). Tether emphasized that the incident will not affect USDT's stability or liquidity and declined to detail any direct customer impact. The company also reiterated ongoing efforts to recover the seized funds.

Why it matters: Tether's rapid response aims to reassure markets amid renewed scrutiny of its banking relationships and reserve management. While the exposure is small relative to Tether's total assets, the episode highlights the challenges stablecoin issuers face in maintaining secure and transparent banking channels. The incident may accelerate Tether's previously announced plans to expand USDT issuance natively on Bitcoin, as the company seeks to diversify away from vulnerable intermediaries.

Source: Cointelegraph