Tag: nyag

Feb 23 2021

Bitfinex, Tether Found To Misrepresent USDT Backing And Obscure User Fund Losses

Feb 23 2021 Published at Bitcoin Magazine under tags  bitfinex ifinex nyag regulation tether

After more than two years of legal battle and investigation, iFinex and stablecoin issuer Tether have agreed to an $18.5 million settlement with the New York Attorney General’s office (OAG) today while admitting to no wrongdoing. Originally promoted by findings stemming from a 2018 investigative subpoena, the OAG alleged in 2019 that...

Bitfinex, Tether Found To Misrepresent USDT Backing And Obscure User Fund Losses

Feb 23 2021 Published at Bitcoin Magazine under tags  bitfinex business ifinex nyag tether

The NYAG found that Tether and Bitfinex misrepresented the assets backing USDT and obscured the loss of $850 million in user funds.After more than two years of legal battle and investigation, iFinex and stablecoin issuer...

Bitcoin Rebounds on Tether, NY AG $18.5M Settlement

Feb 23 2021 Published at Crypto Briefing under tags  bitfinex lawsuit markets nyag tether

New York's Attorney General Letitia James and iFinex Inc., the parent company of Tether and Bitfinex, have settled the $850 million lawsuit for a penalty of $18.5 million and mandatory reporting on business operations in the future. The end to the Tether saga, which stoked fears of a massive...

Bitfinex and Tether Settles Dispute With NYAG With $18.5 Million Penalty

Feb 23 2021 Published at Coingape under tags  bitfinex ifinex news nyag regulation news

iFinex owned Bitfinex and Tether finally settled with NYAG...

Feb 05 2021

Bitfinex Repays Tether $750 Million Loan, Ending Crypto Market FUD

Feb 05 2021 Published at Crypto Briefing under tags  business ifinex nyag tether

Bitfinex exchange's parent company iFinex Inc. made full payment of the $750 million loan it had taken from Tether, putting an end to speculation of wrongdoing that threatened to wind up the company. An End to Tether FUD The two companies,...

Jan 20 2021

Breaking: Bitfinex and Tether Seeks 30-day Extension to Produce Critical Financial Document Before NYAG

Jan 20 2021 Published at Coingape under tags  bitfinex bitfinex vs nyag ifinex news nyag

iFinex Inc, the parent company of both Tether and Bitfinex has filed for a 30-day extension for the submission of key documents about Tether reserves and other financial operations in the ongoing lawsuit filed by NYAG. Update letter for NYAG Tether case, ~30 more days of waiting everyone. See you around Valentine's day https://t.co/NgozuAMDVY -- The post Breaking: Bitfinex and Tether Seeks 30-day...

Jan 16 2021

Why Tether’s Reserves Probably Don’t Contain Bitcoin

Jan 16 2021 Published at Crypto Briefing under tags  bitcoin deltec markets nyag reserves

Tether has strongly implied that its USDT stablecoin is not backed by Bitcoin, following unclear statements from its banking partner Deltec. Deltec Invests In Bitcoin Hugo Rogers, Chief Investment Officer of Deltec Bank, recently announced that his firm invests some customer funds in...

Jan 15 2021

Dec 11 2020

New York Attorney General Says Bitfinex, Tether Could Complete Loan Document Handover in ‘Weeks’

Dec 11 2020 Published at CoinDesk under tags  bitfinex markets news nyag policy & regulation

The NYAG has said Tether and Bitfinex have been cooperating in its inquiry, which is expected to progress more quickly once the documents are provided.

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