January 15 is an important date for the issuers of Tether, a USD-pegged stablecoin.But what does it mean? I share data from an incredible article … Tether Price Manipulation Lawsuit Tether and cryptocurrency exchange Bitfinex must face trial in a case regarding the loss of more than $850 million co-mingled client and corporate funds, a NY state appeals court ruled on Thursday.. Bitfinex is accused of engaging in a massive cover-up after it allegedly lost $850 million and then attempted to use funds from sister-entity Tether to cover up the incident quietly. Tether has been in an ongoing lawsuit for 2 years, and we’re about to learn the way that is going to go down. The official announcement on 15th of January will be that the state attorney general of New York will proceed further with the case against Tether/Bitfinex after a delay of 17 months. In December 2019, Bitfinex and Tether apparently handed over more than 70 thousand documents to the New York AG, and seem to have decided to start handing over the real documents following a virtual hearing in September 2020. Source: USDT on TradingView.com Tether market cap. These violations in turn spelt harm for investors and provided services that were […] The injunction (which expires on Jan 15 2021) was designed to stop Tether and Bitfinex coming up with any other arrangements to address the shortfall as well as prohibiting destruction of documents and other evidence. Docket for In re Tether and Bitfinex Crypto Asset Litigation, 1:19-cv-09236 — Brought to you by the RECAP Initiative and Free Law Project, a non-profit dedicated to … We are getting close to a January 15th deadline which signs the end of the discovery phase of the lawsuit. Source: USDT on TradingView.com The research analyst discussed the worst-case scenario for Tether and BitFinex, citing the “dual lawsuits” against BitMEX filed by the Commodity Futures Trading Commission and Departmnent of Justince. Bitfinex and Tether face a January 15 deadline to transfer millions of pages of documents to James’s office. New York Attorney General’s office (NYAG) has given Tether till 15th January, 2021 to submit the required documents as regards the lawsuit against the Tether holding company; iFinex. Tether market cap. In addition to that, he also extended an injunction that barred Tether from loaning funds to Bitfinex by 90 more days. I agree with you it will take some time for the case to be resolved, but this will be the starting point. The Supreme Court will begin examining the documents after January 15th, 2021. With this in mind, below is a comprehensive summary of what happened and what to […] Tether Limited, the company behind the widely-used Tether (USDT) stablecoin, will submit several documents explaining its legality to the New York Prosecutor’s Office tomorrow, Jan. 15, before the deadline expires. Tether, the crypto heartbeat. However, on December 9th, 2020, Letitia James, the Attorney General, filed a document, asking Justice Cohen to extend the deadline to January 15th, 2021. The suit against the company was based on the fact that it violated regulations. Many in the cryptocurrency field have recently discussed the upcoming January 15th date as an important consideration for the ongoing case between the office of the New York Attorney General (NYAG) and iFinex, the parent company of Bitfinex and Tether.
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