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Tether says it has limited exposure to EQIBank tied to $84M seizure

Cointelegraph reports Tether confirmed it is a customer of EQIBank, which prosecutors alleged directed a payments business to move hundreds of millions of dollars.

Reported · Written up by our desk · Stablecoins

Stablecoin issuer Tether said it had limited exposure to EQIBank, the bank prosecutors linked to a U.S. seizure tied to $84M, according to Cointelegraph.

Cointelegraph reports that the Justice Department alleged a payments business illegally transferred hundreds of millions of dollars at the direction of EQIBank, where Tether holds some assets.

In response to reports connecting Tether and Bitfinex to a Montana-based payments business named in a civil forfeiture complaint, a company spokesperson told Cointelegraph it had no knowledge of the alleged conduct.

Tether also confirmed, through Cointelegraph, that it is a customer of EQIBank.

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