According to the Financial Times, 80% of EQIBank's assets, totaling $84 million, have been frozen as part of an asset seizure action against Capstone Limited. EQIBank previously partnered with Tether. The report states that Tether's relationship with EQIBank is linked to Marlin Capital Partners, which, as Tether's investment advisor, had invested in EQIBank and pledged additional investment if EQIBank could help Tether open an account with DBS Bank in Singapore. A forfeiture complaint filed by the U.S. Department of Justice in July alleges that Capstone Limited misrepresented the nature of its business to U.S. banks such as Wells Fargo, JPMorgan Chase, and Citibank, describing itself as an "application development service" rather than a money services business. The complaint also notes that Capstone had transferred hundreds of millions of dollars through its accounts, with nearly two-thirds flowing to hundreds of individuals and entities under "Cryptocurrency Company 1/Cryptocurrency Exchange 1," descriptions consistent with Tether and Bitfinex. EQIBank stated in a filing that the seizure has led to a "severe liquidity crisis" and could result in its liquidation.