DOJ is seeking $84.2 million from Tether-linked processor Capstone, almost all of it held in Wells Fargo and JPMorgan accounts with just $1.1 million in USDT. The Dominica bank behind Capstone says losing the funds could liquidate it, while Tether puts its exposure under 0.034% of assets.
Perspective Coverage
3 publishers
- Builder
- Builder 12%
- Operator
- Operator 37%
- Investor
- Investor 51%
Reality
- Evidence62
- Adoption
- Not scored
- Hype gap+25
- Incentives65
- Confidence60
The Southern District of New York filed on September 14 to take roughly $61 million in crypto from two China-based firms that used Binance trading accounts, under a standard of proof that stops at more likely than not.
Perspective Coverage
5 publishers
- Builder
- Builder 15%
- Operator
- Operator 46%
- Investor
- Investor 39%
Reality
- Evidence68
- Adoption
- Not scored
- Hype gap+20
- Incentives55
- Confidence65
US seizure of a payment provider's accounts leaves EQIBank holding a fifth of its money
EQIBank says a US seizure of about $89 million from accounts tied to payment provider Capstone, roughly 80% of its money, could force it to liquidate. A federal court in California now has to decide whether the $84.2 million prosecutors want forfeited belongs to the bank.
Reality
- Evidence40
- Adoption
- Not scored
- Hype gap+15
- Incentives55
- Confidence42
Binance closed a $1.2bn account seven months after the trades prosecutors now want seized
A civil forfeiture filed on September 14 names Blessed Trust and Hexa Whale Trading, two Hong Kong entities whose Binance accounts ran about $1.69bn of volume while the exchange sat under a compliance monitor.
Reality
- Evidence42
- Adoption
- Not scored
- Hype gap+25
- Incentives60
- Confidence45
SDNY's $61M Iran forfeiture covers about 4% of the oil flow it describes
A civil forfeiture complaint in Manhattan targets two Chinese firms and describes more than $1.5 billion in Iranian oil proceeds. Binance appears in it as a venue, and Richard Teng says the exchange is not accused.
Reality
- Evidence55
- Adoption45
- Hype gap+20
- Incentives65
- Confidence45
A discovery packet in Montana named the Border Patrol unit that screens financial activity for stops
404 Media found Border Patrol units that review Americans' financial activity and hand the result to local police. The document behind the finding came out of one defendant's discovery, which leaves the input end of the pipeline unnamed.
Reality
- Evidence55
- Adoption22
- Hype gap+30
- Incentives68
- Confidence52