TREE NEWS update: Tether said its exposure to EQIBank, the Dominica-licensed bank whose assets were seized by US authorities, is less than 0.034% of its total group assets. Based on Tether’s $187.75 billion in group assets reported in June, that caps its EQIBank exposure at about $64 million. EQIBank said roughly $89 million, about 80% of its monetary assets, was seized by US prosecutors and it may face liquidation. Tether did not disclose a specific figure and said it was unaware of the alleged conduct of US payment processor Capstone.
Tether Says EQIBank Exposure Capped at ~$64M After US Seizure
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AI take
Tether's decision to frame the exposure as a fraction of group assets, rather than a dollar figure, is itself the signal: the issuer wants the comparison to be to its balance sheet, not to the bank's failure. The gap between what Tether disclosed and EQIBank's own account of the seizure is where the story sits, and it matters most for counterparties assessing how much visibility they have into Tether's banking relationships. Whether Tether names a specific number, or whether the Capstone thread pulls in other issuers, is the open question.
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