Tether Puts EQIBank Exposure at Under 0.034% of Group Assets
Tether disclosed its exposure to EQIBank after a report said some of its funds were stuck at the offshore lender, which faces liquidation risks.
Tether says its holdings at EQIBank represent less than 0.034% of the group’s assets, according to a spokesperson cited by The Defiant.
The disclosure followed reporting by The Information that some funds belonging to the stablecoin issuer were stuck at the offshore bank.
EQIBank faces liquidation risks after a U.S. asset seizure. Tether’s statement quantified its exposure but, in the supplied report, did not clarify whether those funds were accessible.
Source: The Defiant
