The cryptocurrency exchange and Tether entered into the contract with the New York Attorney General Empire State (NYAG) in the case of the company’s financial operations related to the loss of $850 million.
Under the settlement, Bitfinex and Tether will pay the New York state $18,5 million. The companies didn’t admit a fact of a law violation.
Tether also agreed to submit NYAG reports on the backing of stablecoin USDT. The authority admitted satisfaction of the Bitfinex debt to Tether.
At the same time, documents, which are allegedly correspondence of Tether with the Bahamas bank Deltec serving the company, are circulating on the Internet. They say that in spite of its claims Tether uses cryptocurrency assets to back USDT. Under the evidence of the suggested leak, the company wrote in the comments that this is not the case and noted that it became a victim of blackmail.
There is much news around Tether related to the image, however, the cryptocurrency showed good results in the long-term and has significant potential. In the near future, Bitstil will connect Tether to the platform.
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