🚨 BREAKING: US AUTHORITIES FREEZE $84 MILLION LINKED TO TETHER’S PAYMENT NETWORK
The U.S. government has reportedly seized bank funds tied to Capstone, a payments firm accused of moving hundreds of millions of dollars for Tether and Bitfinex through EQIBank.
According to the Financial Times, Capstone allegedly opened U.S. bank accounts while presenting itself as a technology company.
Those accounts were then allegedly used to move payments to hundreds of individuals and entities.
Now, roughly $84 MILLION has been frozen across Capstone accounts at Wells Fargo and JPMorgan.
And there’s another explosive detail.
FT reports Capstone was also connected to a separate case involving stolen money from elderly victims that was allegedly converted into USDT.
Tether and Bitfinex say they were customers of EQIBank but had no knowledge of Capstone’s alleged misconduct.
The bigger story isn’t just the $84M freeze.
It exposes a structural problem for offshore crypto firms:
Access to the U.S. dollar system often depends on banks, intermediaries and payment companies willing to bridge the gap.
When one of those bridges comes under investigation, the consequences can spread far beyond one company.
For Tether, this puts renewed attention on its banking relationships, payment infrastructure and ability to move dollars through the traditional financial system.
The case is still unfolding.
But one thing is clear:
Crypto’s biggest dollar-backed ecosystem is still deeply connected to the banking system it was built to operate around.
#Bitcoin #Tether #Crypto #USDT #Finance
The U.S. government has reportedly seized bank funds tied to Capstone, a payments firm accused of moving hundreds of millions of dollars for Tether and Bitfinex through EQIBank.
According to the Financial Times, Capstone allegedly opened U.S. bank accounts while presenting itself as a technology company.
Those accounts were then allegedly used to move payments to hundreds of individuals and entities.
Now, roughly $84 MILLION has been frozen across Capstone accounts at Wells Fargo and JPMorgan.
And there’s another explosive detail.
FT reports Capstone was also connected to a separate case involving stolen money from elderly victims that was allegedly converted into USDT.
Tether and Bitfinex say they were customers of EQIBank but had no knowledge of Capstone’s alleged misconduct.
The bigger story isn’t just the $84M freeze.
It exposes a structural problem for offshore crypto firms:
Access to the U.S. dollar system often depends on banks, intermediaries and payment companies willing to bridge the gap.
When one of those bridges comes under investigation, the consequences can spread far beyond one company.
For Tether, this puts renewed attention on its banking relationships, payment infrastructure and ability to move dollars through the traditional financial system.
The case is still unfolding.
But one thing is clear:
Crypto’s biggest dollar-backed ecosystem is still deeply connected to the banking system it was built to operate around.
#Bitcoin #Tether #Crypto #USDT #Finance
