Click HERE to find out ⭐ Chicken or Egg? Where do you think we will go next month when their due date is to provide documents. Does Tether constitute a systemic threat to BTC? And they are unregulated. [Latest Update] $850 Million Bitfinex & Tether Crypto Fraud – … Share your thoughts about the tether investigation by CFTC. On Tuesday, iFinex, the parent company of cryptocurrency exchange Bitfinex and stablecoin issuer Tether, settled a two-year-old investigation brought by the New York State Attorney General.. Tether and Bitfinex pay a fine of $ 18.5 million. My opinion is no. The Bit Short: Inside Crypto’s Doomsday Machine | by Crypto … Tether Artificially Inflated Prices The class-action suit filed in the Southern District of New York alleges that the two companies, and a number of affiliated entities, manipulated the crypto market out of up to $1.4 trillion USD. As found in the NYAG investigation, tether likely never had a dollar in a bank account for each USDT, at any point, ever. In case you haven't read about the case, the NYAG is pursuing a lawsuit against Tether, the stablecoin provider, for lending money to Bitfinex that was used to back its stablecoin. Such decision was made because Cohen still needed some time to finalize his concluding say. Tether has agreed to hand over a slew of documents to the NY attorney general showing how they issue tethers, what’s behind tethers, and so on. All Bitcoin holders as of block 478558 are now owners of Bitcoin Cash. I don’t think this had an effect. ReddIt. Firm Finds Correlation Between Source: https://www.youtube.com/watch?v=62cvxPIDBGY, SO Very True. The leading community for cryptocurrency news, discussion, and analysis. Tether, which is indexed to the dollar and defined as a stabilecoin, was caught on the radar of the New York Attorney General on the grounds that fraudulent transactions were carried out. Tether has been under investigation by the New York Attorney's General office for nearly six months now, with a deadline for the firm and Bitfinex to hand over documents come October 14 th. Bitfinex and Tether still have to handover documents that the NYAG requested in its November 2018 investigative subpoena. 0. Dollars in their account. Not many people remember the exact date though, so it might not be linked. Here’s a former tether director and shareholder openly admitting to bank fraud and money laundering, a little over a year before tether lost $850 million dollars in a money laundering scandal. There bank has not had an increase in deposit. Description of Request: This requests seeks any and all notes, observations, investigations, postulations, references, and research about, involving, including, or mentioning or alluding to either Tether or USDT, a digital currency in the blockchain space that has publicly represented that each of its issuances are pegged to the United States' official currency (USD). Who could have seen this coming? But somehow Tether was able to back all of their 49 BILLLION USDT tokens with U.S. More posts from the Bitcoincash community. Proof: The Central Bank of the Bahamas February 2021 report says there has not been any increase in Foreign deposits the entire year of 2020. Press question mark to learn the rest of the keyboard shortcuts, https://forkast.news/tether-bitfinex-bitcoin-double-spend-rumors-brave-ipfs#1-temporary-legal-reprieve-for-bitfinex-and-tether. Tether commingled customer and corporate funds. More specifically, he was quoted saying: “I will extend the injunction […] My guess is the drop was caused by some whale who is an institutional investor who likes to buy more at lower price before offering a crypto asset for his customers. Moons reward posters, commenters, and moderators for their contributions to the subreddit. Uncomfortable questions for Bitfinex and Tether as feds search … https://www.centralbankbahamas.com/viewPDF/documents/2021-03-16-13-39-06-CBOB-Quarterly-Statistical-Digest---February-2021.pdf. New York Supreme Court Judge, Joel M. Cohen has recently given a 90-day extension on an investigation involving both crypto exchanges, Bitfinex, and Tether report Coin Desk. Is the Cryptocurrency Tether Just a Scam to Enrich Bitcoin … Telegram. It was Sunday night and I just found out about the article “The Big Short: Inside Crypto’s Doomsday Machine” on Tether last inspected the reserves it uses to produce USDT in 2018. If they are so dodgy with Tether I guess that they will be dodgy in other issues as well. The U.S. Department of Justice (DOJ) was reportedly focusing a months-long investigation into crypto market manipulation on the tether stablecoin on Nov. 20, Bloomberg suggested at the time. EDIT: link without paywall https://forkast.news/tether-bitfinex-bitcoin-double-spend-rumors-brave-ipfs#1-temporary-legal-reprieve-for-bitfinex-and-tether. Patricia Bakely December 14, 2019. While the company is publicly celebrating that its stablecoin and exchange can move past this episode, legal experts say iFinex could remain under scrutiny from other state … Bitcoin Cash (BCH) brings sound money to the world. Tether case: The famous case of NYAG (New York Attorney General) vs iFinex. They are the opposite. Coinbase, the most-recognizable cryptocurrency exchange in the US, is adding Tether to its Coinbase Pro platform.. It’s welcome news for Tether, the largest stablecoin by market capitalization, which just recently settled an investigation by the New York Attorney General’s Office regarding potentially illicit loans between it and its sister exchange, Bitfinex. 0 3,665 2 minutes read. 0. It has always been that way with that lying company iFinex . Tether is a US dollar substitute token, issued by Tether Inc., an associate of cryptocurrency exchange Bitfinex. All Bitcoiners are welcome to join the Bitcoin Cash community as we move forward in creating sound money accessible to the whole world. Tether has been under investigation by the New York Attorney's General office for nearly six months now, with a deadline for the firm and Bitfinex to hand over documents come October 14 th. https://www.ft.com/content/3ac4809e-7c4d-4d9f-83ea-7112bfd3480a. 0. February 23, 2021. ReddIt. Tether is currently on the radar of the authorities as the New York court approved an investigation of businesses involved with the cryptocurrency. ... New York Attorney General Letitia James flat out criticized the efforts of Bitfinex and Tether to halt her work’s investigation into the businesses. Now fast-forward one year. Visit for Bitfinex Tether Investigation.Bitfinex Tether Investigation: Bitfinex is a leading and important cryptocurrency exchange that offers the major cryptocurrencies for trade and is a favorite spot for margin traders. Tether and Bitfinex pay a fine of $ 18.5 million. Press J to jump to the feed. Bitfinex and Tether have been banned from operating in New York and must pay a fine of $18.5 million as part of a settlement with the … YES If they were clean they would be fast to prove it. The future shines brightly with unrestricted growth, global adoption, permissionless innovation, and decentralized development. That investigation was announced to the public on April 25th, 2019. What about other exchanges? Will Tether collapse? Dollars in their account. They are under investigation for Tether and soon they will be under scrutiny to qualify for regulations. Dollars out of thin air! NY AG Tether investigation update. The largest redemption of Tether was less than $30 million. Tether Case: Important Date for Crypto Market - Cryptocurrency … In a submitting with the New York State Supreme Court’s Appellate Division, New York Attorney General Letitia James flat out criticized the efforts of Bitfinex and Tether to halt her work’s investigation into the businesses. What is Tether (USDT): Is it a Safe Stablecoin? The trade. Tether / iFinex bank Deltec has an unverify amount of U.S. Bitfinex is the top exchange by volume and perhaps the most important single exchange when it comes to the price of cryptocurrency! Every Tether token is always 100% backed by our reserves, which include traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties, which may include affiliated entities (collectively, “reserves”). Tether / iFinex bank Deltec has an unverify amount of U.S. They are distributed monthly and used to weight your vote on polls. They are under investigation for Tether and soon they will be under scrutiny to qualify for regulations. Reported by Forbes, the investigation is based on subpoenas, filed by the attorney general, and has no formal accusation of criminal activity.The case is also supported by an opinion published by the appellate division … The crypto markets endured a loss of as much as $10 billion around 21:00 UTC on Thursday, following the NYAG's allegations on Bitfinex and Tether. Tether (USDT) January 15th Deadline on iFinex Case: Everything You Required to Know January 29, 2021 January 29, 2021 admin 0 Comments 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. Why Tether's Collapse Would Be Bad for Cryptocurrencies | WIRED Press question mark to learn the rest of the keyboard shortcuts, https://www.youtube.com/watch?v=62cvxPIDBGY. Tether: The biggest stable coin by market cap will be having a critical turning point. Tether and its sister company Bitfinex have been accused of creating “the largest bubble in human history” in a lawsuit filed in New York this week. But somehow Tether was able to back all of their 49 BILLLION USDT tokens with U.S. If they run as they should, ie as mediators then there is no issue. Proof: The Central Bank of the Bahamas February 2021 report says there has not been any increase in Foreign deposits the entire year of 2020. They're now forced to reveal the makeup in May 2021 as per the NYAG settlement. At the time of writing Tether is almost hitting a $23b Market Cap, an increase of … Tether Accused of Major Market Manipulation in Trillion Dollar … Merchants and users are empowered with low fees and reliable confirmations. Tether’s reserves throughout … Dollars out of thin air! Now, the NYAG is asking Bitfinex to present the necessary documentation concerning the case and the company is trying to stop the case by stating that the NYAG does not have any … 0. With the announcement made today, both Bitfinex and Tether were fined $ … February 23, 2021. @KyleMcMichael6 @YGradine @WClementeIII "The NYAG couldn't find anything wrong", clearly someone that has not actually read anything from the NYAG. Bitfinex and Tether will admit no wrongdoing in their $18.5 million settlement with the New York Attorney General's office. Another Cryptocurrency Target for U.S. Regulators: Tether - Lawfare Tether, the manufacturer of USDT, went through an assessment of the company’s reserves following the investigation in New York. Everyone has kind of already know Tether is in hot water, hence all the comments I see here telling newbies to stay away from it. However, an investigation by the Office of the Attorney General (OAG) found that iFinex — the operator of Bitfinex — and Tether made false statements about the backing of the “tether” stablecoin, and about the movement of hundreds of millions of dollars between the two companies to cover up the truth about massive losses by Bitfinex. POSTSCRIPT: Thanks to the NYAG investigation we have found out the following things: Bitfinex commingled customer and corporate funds. ... iFinex has to submit all the documents asked by NYAG so that they can continue the further investigation of the case. On the 9th of July 2020 The New York Court approved an investigation by the state's attorney general to look into numerous businesses behind Tether (stablecoin). Tether executives would get irregular large payments from Tether. Tether and Bitfinex dumped 1 million documents, I can imagine it got delayed lol, More posts from the CryptoCurrency community. The OAG’s investigation found that, starting no later than mid-2017, Tether had no access to banking, anywhere in the world, and so for periods of time held no reserves to back tethers in circulation at the rate of one dollar for every tether, contrary to its representations. Telegram. Press J to jump to the feed. ReddIt. Tether is a favourite of the crypto trading markets — it moves at the speed of crypto, without all that tedious regulation … Because Tether sounds exactly like a currency fraud, it may not surprise you to learn that Tether Ltd. is currently under investigation by the Office of the Attorney General for the Southern District of New York.
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