Tether—with its sister company Bitfinex—may be in a heap of trouble in New York, but the stablecoin issuer is trying its hand at taking on another major currency: China’s yuan.
News from New York Attorney General Letita James lawsuit against Bitfinex and Tether might finally be getting juicier. In an August 19 ruling, Judge Joel Cohen of the New York State Supreme Court shot down attempts by cryptocurrency exchange Bitfinex and its sister company, stablecoin issuer Tether, to shut down the civil action.
New York State Attorney General Letitia James’s office called shenanigans yesterday on Bitfinex and Tether’s argument that it could spend $5 million defending itself from accusations of fraud.
New York State Attorney General Letitia James’ case against stablecoin issuer Tether and its sister company, cryptocurrency exchange Bitfinex got a few months longer today.