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NY Attorney General goes after Tether and Bitfinex for $850M cover-up


The New York State Attorney General (NYSAG) is reportedly building a case to sue cryptocurrency exchange, Bitfinex, and stablecoin, Tether. As court documents dated April 24 state, neither Bitfinex nor Tether are licensed to operate in the state of New York, and yet the Office of the Attorney General (OAG) believes New York-based investors did use the exchange to trade Tether. As a result, Bitfinex and Tether contravened US legislation designed to protect investors, including one which requires the firms to maintain relationships with banks that can “reliably hold the funds and process client deposits and withdrawals including banks that…

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