Bitfinex and Tether settled $18.5 million with New York Attorney General’s Office
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According to The Block, Bitfinex and Tether have agreed with the New York Attorney General’s Office (NYAG) for $18.5 million. As part of the agreement, Tether voluntarily agreed to provide information on USDT reserves on a quarterly basis to NYAG, the public, and NYAG agreed to the proposal. In the agreement, NYAG admitted that Bitfinex recently paid off a loan to Tether. Jason Weinstein, Bitfinex, Tether Advisor, said, “We have not found that Tether issued USDT or manipulated cryptocurrency prices without reserves.” Bitfinex, Tether’s legal adviser Stuart Hogner, explained the settlement money as “Bitfinex and Tether should postpone this issue and focus on business.” Bitfinex and Tether have been in legal disputes with NYAG since mid-2019. At the time, NYAG claimed that Bitfinex used tethered funds to cover up about $850 million in losses.
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