Tether Says Assets at EQIBank Are Less Than 0.034% of Total Holdings

What happened

Tether said some funds remain with one of its offshore banking partners, EQIBank, which faces liquidation risk after U.S. authorities seized assets. Tether said its assets at EQIBank are limited and are less than 0.034% of its total assets.

Confirmed

Global impact / market context

Tether is the company behind USDT, a digital token designed to stay near one dollar. Because EQIBank faces liquidation, which means it may be closed and its assets sold off, Tether is telling holders that only a tiny slice of its total holdings sits there.

Analyst inference

Investors judge USDT by whether Tether can return one dollar per token. A small share of assets tied to a bank facing liquidation could raise questions about where Tether keeps its cash, though the stated amount is under 0.034% of total assets.

Analyst inference

What to watch

1. Whether EQIBank is actually liquidated after U.S. authorities seized its assets, and what that process means for any funds still held there by Tether or other clients. Confirmed
2. Tether could move any remaining EQIBank funds to another banking partner, or it could publicly explain how it safeguards customer money held across offshore banks. Proposed
3. USDT holders may check whether the token keeps its one-dollar target and whether Tether's total assets still cover all tokens in circulation. Analyst inference

Affected assets

• USDT — Tether

Evidence

• binance.com