Tether caps potential losses at $64 million after an $89 million asset seizure involving EQIBank, underscoring systemic risks in fiat-to-crypto banking gateways.
Tether's confirmation of minimal EQIBank exposure following the seizure underscores lingering counterparty risks in fiat gateways, potentially affecting USDT's stability perception.
EQIBank's exposure to the $89M US asset seizure highlights counterparty risks, potentially affecting its reputation and operations.
Tether has confirmed its maximum exposure to EQIBank remains under $64 million following a significant $89 million U.S. asset seizure. The incident highlights ongoing counterparty risks within fiat gateway networks, prompting renewed scrutiny of stablecoin reserve transparency.
Tether has stated that its maximum exposure to the entity involved in the $89 million asset seizure is capped at $64 million.