One of Tether's Bank Partners Hit by US Asset Seizure
US authorities seized bank accounts of an obscure Sacramento-based company that Tether used to process transactions. The stablecoin issuer holds over $100 billion in US Treasury bills, mostly at Cantor Fitzgerald, but still depends on a web of unstable intermediaries.
- Tether holds over $100 billion in US Treasury bills
- Cantor Fitzgerald is the main holder of the paper
- US seized accounts of a Sacramento-based intermediary
- Tether cannot open accounts directly at major US banks
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