US moves to seize $84.2M from Capstone over alleged illegal transfers for Tether and Bitfinex
- —About $84.2 million targeted, with $79.11 million held in a Wells Fargo Securities account
- —EQIBank says the frozen funds represent roughly 80% of its $89 million in total holdings
- —Tether says its exposure to EQIBank is less than 0.034% of total assets
- —Tether and Bitfinex settled NYAG claims in 2021 for $18.5 million without admitting wrongdoing
Why it matters: The case adds pressure on crypto firms' banking access, though Tether says the forfeiture barely touches its reserves and USDT's peg.
Source: Crypto Briefing