TREE NEWS update: Tether said less than 0.034% of its assets are held at EQIBank, an offshore bank whose funds US prosecutors are moving to seize. Prosecutors are seeking to forfeit about $83 million held by a payments firm that EQIBank says was keeping the bank’s money. The disclosure puts Tether’s exposure to the bank at a fraction of a percent of its reserves.
Tether Says Under 0.034% of Assets Held at EQIBank Amid US Seizures
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AI take
Tether's disclosure is a pre-emptive reputational shield: by quantifying its EQIBank exposure as a fraction of a percent, it aims to distance its reserves from a bank now entangled in US forfeiture proceedings. The real significance lies in the precedent—stablecoin issuers are being forced to publicly account for banking counterparties as US prosecutors widen their reach into offshore financial plumbing. Whether Tether's transparency here becomes a template for routine reserve-bank disclosures, or remains a one-off response to enforcement risk, is the open question.
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