🚨 TETHER EXPOSURE ALERT
Tether reportedly has funds at offshore bank EQIBank, which faces liquidation risk following a U.S. asset seizure, according to The Information.
But the reported exposure appears limited:
• Under 0.034% of Tether’s assets
• Less than $64M based on its Q2 reserves report
• Tether says the exposure is not material to its overall balance sheet
The headline sounds big.
The actual percentage is tiny.
Still, the situation raises a broader question: how much counterparty risk exists across stablecoin reserve structures? 👀
Tether reportedly has funds at offshore bank EQIBank, which faces liquidation risk following a U.S. asset seizure, according to The Information.
But the reported exposure appears limited:
• Under 0.034% of Tether’s assets
• Less than $64M based on its Q2 reserves report
• Tether says the exposure is not material to its overall balance sheet
The headline sounds big.
The actual percentage is tiny.
Still, the situation raises a broader question: how much counterparty risk exists across stablecoin reserve structures? 👀
