US freezes $89M at Tether partner bank EQIBank, exposing stablecoin counterparty risk
- —$89 million frozen, roughly 80% of EQIBank's cash
- —Equals less than 0.034% of Tether's $18.775 billion in assets
- —Frozen assets include 450,000 BTC and 150,000 ETH
- —Funds flowed via Capstone, which allegedly misled banks about its business
Why it matters: The case highlights stablecoin banking-channel risk: a single failure among banks and payment processors can hit liquidity across multiple exchanges at once.
Source: 動區 BlockTempo