Tether said EQIBank maximum exposure was approximately 64000000 USD, and the bank said it may face liquidation
BIBIBI
AT A GLANCE
Tether said its exposure to EQIBank was less than total assets 0.034%，EQIBank said approximately 89000000 USD of its assets were seized.
Article
Tether Response EQIBank Seized 89000000 USD assets: exposure cap of approximately 64000000 USD
PANews September 25 According to news reported by CoinDesk, stablecoin issuer Tether stated that its exposure to the Dominica-licensed bank whose assets were seized by U.S. authorities EQIBank was less than 0.034%. Based on Tether June published 187750000000 USD total group assets, its maximum exposure to EQIBank was approximately 64000000 USD，Tether did not disclose the specific amount and said it had previously been unaware of the alleged conduct involving Capstone, the U.S. payment processor accused by the U.S. Department of Justice.EQIBank said that approximately 89000000 USD of its assets had been seized by U.S. prosecutors, equivalent to approximately 80%of its monetary assets, and that it may face liquidation.EQIBank Previously provided Tether with banking services, including processing wire transfers for the purchase and redemption of USDT. The incident has not yet indicated any impact on USD...
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🔗https://www.panewslab.com/zh/articles/01a0d907-f4ae-76db-ac7a-00333e9282c6
Key points
01
According to reports,Tether stated that its exposure to EQIBank was less than of total group assets 0.034%。
02
Based on Tether published 187750000000 USD total group assets, reports estimate that its maximum exposure to EQIBank was approximately 64000000 USD。
03
Tether did not disclose the specific amount of its exposure to EQIBank the exposure.
04
Tether said it had previously been unaware of the alleged conduct involving Capstone cited by the U.S. Department of Justice.
05
EQIBank said approximately 89000000 USD assets were seized by U.S. prosecutors, equivalent to approximately 80%, and said it may face liquidation.
06
EQIBank Previously provided Tether banking services to, including processing USDT purchase- and redemption-related wire transfers.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
“Exposure” here refers to Tether the scale of assets that may be at risk due to EQIBank an event. The approximately 64000000 USD is merely an upper bound calculated based on “less than 0.034%” and the group’s total assets, rather than the Tether actual amount disclosed.
Why it matters to readers
EQIBank Previously processed USDT purchase- and redemption-related wire transfers; a large amount of its assets were seized and it may face liquidation, so the relevant banking services and disposition of funds warrant attention.
This does not mean that USDT purchases or redemptions have already been confirmed to be affected. Beginners should distinguish between the “estimated upper limit of exposure” and “actual losses” and await further disclosure.
Risks and unknowns
Tether The actual exposure amount to EQIBank has not been disclosed.
The original text did not provide the original materials for the seizure documents or related allegations.
EQIBank It has not yet been confirmed whether there will be a formal liquidation.
The original text is truncated at the end, so it cannot be confirmed whether this incident has affected USDT。
Tether The claim that they were previously unaware, along with the other statements by the parties, still requires verification against independent materials.
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Asset exposure
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