Tether confirmed its status as a client of EQIBank, an institution mentioned in a recent US Department of Justice civil forfeiture complaint. The issuer stated that its holdings at the bank account for 0.034% of the group's total assets.
The legal action involves Capstone, a Montana-based payments firm. US prosecutors allege that Capstone operated without a license and facilitated the transfer of hundreds of millions of dollars for various entities, including Tether and Bitfinex.
Authorities have frozen approximately $84 million held in accounts belonging to Capstone. Tether representatives stated that the company had no prior knowledge of the alleged illicit activities conducted by the payments business.
As of the latest reports, the USDT stablecoin maintains a market capitalization of roughly $184 billion. Tether officials did not provide details regarding the potential impact of the asset seizure on its customer base.
