Blockchain and Cryptocurrency: People, Culture and Tech
Cryptocurrency exchange Bitfinex did business with New York-based customers and vendors as recently as this May, according to a filing made in State Supreme Court by the office of New York Attorney General Letitia James.
Leading cryptocurrency exchange Binance plans to launch a stablecoin within two months, in an apparent challenge to the dominance of scandal-plagued Tether.
A court on May 22 ordered New York State Attorney General Letitia James to prove her office has the right to sue Bitfinex and Tether for fraud and securities law violations.
The Tether stablecoin is backed in some part by bitcoins. David Miller, an attorney for Tether’s sister firm, cryptocurrency exchange Bitfinex, revealed in court last week that Tether has invested “a small amount” of the reserve dollars backing the tethers (USDt) in bitcoins (BTC). He added that the company had also invested in other undescribed assets.
