Tether, Bitfinex Settle Case %%page%% %%sep%% %%sitename%%

Tether, Bitfinex Settle Case %%page%% %%sep%% %%sitename%%

Blockstream’s sidechain now supports the stablecoin tether as one of its Liquid assets.

After more than two years of legal battle and investigation, iFinex and stablecoin issuer Tether have agreed to an $18.5 million settlement with the New York Attorney General’s office (OAG) today while admitting to no wrongdoing.

Originally promoted by findings stemming from a 2018 investigative subpoena, the OAG alleged in 2019 that cryptocurrency exchange Bitfinex used funds from Tether, both of which are run by iFinex, to obscure some $850 million in customer funds losses caused by mismanagement or malicious action by payment processor Crypto Capital.

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