2019-9-25 12:57 |
Cryptocurrency exchange Bitfinex can now stop sharing documents about its use of Tether with the New York Attorney General (NYSAG) after winning a motion in the appellate division of the New York Supreme Court over an alleged $850 million cover-up.
Tether is a controversial ‘stablecoin’ issued by Tether Limited, which formerly claimed each token was backed by one US dollar. However, as previously reported by Hard Fork, an affidavit submitted in May showed that it is only 74 percent backed by cash and equivalents. The case first exploded in early April after NYSAG Letitia James began to build a case to sue Bitfinex…
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