In the latest development of an ongoing legal dispute with New York, attorneys for Bitfinex and Tether have asked for a lifting of restrictions on the stablecoin issuer's funds.
Bitfinex and the New York Attorney General’s (NYAG) legal sparring in relation to $850 million in missing funds escalated with another round of court filings this past weekend.
Bitfinex and Tether’s legal counsel has written a response to the New York Attorney General’s (NYAG) ex parte order, which claims that Bitifinex used Tether’s reserves to cover some $850 million in losses.
According to a legal petition filed with the Supreme Court of New York, the NY Attorney General Office is applying for a court order to investigate Bitfinex’s suite of interrelated companies.
The San Juan Mercantile Bank & Trust International, a Puerto Rican bank offering both fiat and digital asset custody and settlement services, is now operational.
Tether just updated its website to clarify that each of its USDT stablecoin tokens, which it used to claim were “always backed 1-to-1 with traditional currency,” are backed by assets other than fiat currency.
Malta-based cryptocurrency exchange Binance has added TrustToken’s TrueUSD (TUSD) as a base currency, expanding the stablecoin’s available trading pairs.
