EQIBank fights to recover $89M seized from US payment provider accounts
- —Seized $89M equals about 80% of EQIBank's monetary holdings
- —US prosecutors filed a $84.2M forfeiture complaint on July 15
- —Funds moved through accounts at Wells Fargo and JPMorgan Chase
- —On Sept. 9 the bank warned of possible liquidation without the money
Why it matters: The case shows offshore banks touching US dollar flows fall under US jurisdiction, and the ruling will decide whether EQIBank survives as a going concern.
Source: Crypto Briefing