NYAG: Bitfinex, Tether Served New York Residents Longer Than They Claim

The New York Attorney General’s Office (NYAG) has submitted new evidence in its aim to prove that crypto exchange Bitfinex and Tether had served New York customers longer than they claimed. As part of the NYAG’s ongoing investigation into Bitfinex and Tether, the NYAG filed a Memorandum of Law in Opposition, an affirmation, as well […]

Continue Reading

Bitfinex: NYAG’s Order Is Hurting Our Customers and the Crypto Market

Bitfinex’s customers might suffer if it can’t access a line of credit from stablecoin issuer Tether, the exchange’s attorneys argued Sunday. In a new filing, attorneys Jason Weinstein and Charles Michael of Steptoe and Johnson, and David Miller and Zoe Phillips of Morgan, Lewis and Bockius, outlined a number of arguments for why a preliminary […]

Continue Reading

NYAG: Bitfinex Should Be Made to Disclose Tether Deal Documents

New York prosecutors have struck back at cryptocurrency exchange provider Bitfinex, telling a local court that they believe the company should be made to turn over documents outlining a nearly $900 million line of credit offered by stablecoin issuer Tether. The New York Attorney General’s (NYAG) first sued Bitfinex and Tether for all documents pertaining […]

Continue Reading

Mob Rule? The Call To Delist Tether Grows

In case you’ve been away, there’s been a bit of a hoo-hah regarding Tether over the past week or so. This has now descended into open calls for Binance and other exchanges to delist ‘the original stablecoin’. A Strong And Stable Governance The story so far: Payment processor, Crypto Capital Corp, “seizes and safeguards” $850 million […]

Continue Reading

Tether’s (USDT) Negligence deserves Exchanges De-listing

Recently, Tether’s general counsel confirmed that the Tether stable coin (USDT) is not 100 percent fiat backed. This was disclosed in an ongoing case where the New York Office of the Attorney General (NYAG) accused BitFinex, a crypto exchange, for mishandling clients’ funds leading to a possible $850 million loss. Unfortunately, Tether’s reserves were used […]

Continue Reading

Crypto ATM Operator Postpones Tether Buying ‘Until the Smoke Clears’

Efforts to promote the new, Tron-powered version of USDT are stumbling following the New York Attorney General’s fraud allegations against the companies behind the stablecoin. CoinFlip, a crypto ATM startup, had planned to add the Tron version of USDT to more than 180 of its machines, allowing people to buy the token for cash at […]

Continue Reading