Tether Reports Limited EQIBank Exposure After $89M US Asset Seizure

·2 views

Stablecoin issuer Tether has confirmed it has minimal financial exposure to EQIBank following a significant US government seizure of $89 million in assets linked to the bank. Tether's maximum exposure to EQIBank is capped at under $64 million, according to the company's own disclosures. The seizure has drawn attention to the counterparty risks that remain present within the fiat banking networks that stablecoin issuers rely on. The incident highlights ongoing regulatory and financial vulnerabilities in the gateways connecting crypto firms to traditional banking systems.

Read the full story at CoinDesk

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

Circle and Tether freeze $318K in stablecoins linked to Bitget hack

Circle and Tether have intervened following a major cryptocurrency theft on the Bitget exchange by blacklisting a hacker-linked wallet. The frozen wallet contained approximately $318,000 worth of USDT and USDC stablecoins. The two stablecoin issuers acted by exercising their ability to block transactions from the flagged address. However, the majority of the stolen funds were held in Ether, a cryptocurrency that cannot be frozen by any central authority, limiting the effectiveness of the intervention.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Tokenization Outpaces Washington as Regulatory Clarity Becomes Economic Issue

Former New York Governor Andrew Cuomo has argued that regulatory clarity around tokenization is not merely a legal or political matter, but fundamentally an economic one. The digital asset sector is advancing at a pace that U.S. regulatory frameworks have struggled to match. Cuomo's remarks highlight growing concern that Washington's slow response to tokenization could have broader economic consequences. The gap between technological progress and policy development is increasingly seen as a competitive risk for the United States.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Strategy proposes daily dividends to push STRC shares back above $100

Strategy has put forward a proposal to introduce daily dividend payments for its STRC preferred shares. The stock has been trading below $100 since May, struggling to recover despite an existing 12% dividend rate. The company has also spent approximately $1 billion on preferred share buybacks, yet the price has remained depressed. The daily dividend proposal is aimed at making the shares more attractive to investors and restoring their value to the $100 mark.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Bond Volatility Hits March High as Bitcoin and Stock Markets Stay Calm

Bond market volatility has surged to its highest level since March, signaling growing unease among fixed-income investors. In contrast, Bitcoin's volatility index (BVIV) and Wall Street's VIX are both hovering near their lowest points of the year. This divergence highlights an unusual decoupling between bond markets and equity and crypto markets. While bonds are experiencing heightened turbulence, both traditional stocks and digital assets appear relatively stable and composed.

0 comments Read more at CoinDesk