CoinMeta data: The seizure of $84 million in US assets reveals a complex flow of funds involving Tether clients, Caribbean banks, payment intermediaries, and major US financial institutions. US prosecutors accuse Capstone Limited of obtaining access to US banks through false statements and using these accounts to handle hundreds of millions of dollars in funds for clients related to Eqibank. Tether claims to be completely unaware of the improper activities of Capstone, and its direct risk to Eqibank accounts for only 0.034% of the group's assets. This seizure is not about a shortage of reserves held by Tether, but rather about the complexity of the banking operations behind stablecoins.