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Millionaire deal ends investigation against Tether and Bitfinex in the US | Future of Money

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The New York Attorney General’s Office (NYAG) announced on Tuesday, 23, that it had accepted an agreement to close the investigation against the Bitfinex exchange and Tether, responsible for the USDT stablecoin. The lawsuit, which has been going on since mid-2019, will be closed with a fine of $ 18.5 million (about 101 million reais) and closure of the commercial operations of companies in the state of New York, among other measures.

“An agreement with iFinex, Tether and all of its related entities will require the cessation of any commercial activities with New Yorkers, as well as compel companies to pay $ 18.5 million in fines, in addition to requiring a series of measures to increase its transparency “, says NYAG document with the announcement of the agreement.

The NYAG investigation began in April 2019, when the prosecution claimed that Bitfinex used funds from Tether to cover up the loss of $ 850 million in an unregistered and fraudulent transaction. The lost funds would have triggered problems of withdrawal of values ​​by clients of the brokerage in late 2018. “An investigation by the attorney general’s office found that iFinex – Bitfinex’s operator – and Tether made false statements about stablecoin’s support “tether” and the movement of hundreds of millions of dollars between the two companies to cover up the truth about Bitfinex’s massive losses “, the text says.


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