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.
NY Attorney General Letitia James: Bitfinex, Tether lied about cutting off New Yorkers
A filing in her fraud suit over Tether’s $625 million loan said Bitfinex did business in New York as recently as May
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.
Bitfinex and Tether’s claim of victory over New York Attorney General Letitia James rings hollow
Judge Joel Cohen’s ruling said claims of securities violations and possibly fraud have a likelihood of success
On May 16, New York State Supreme Court Judge Joel Cohen modified an injunction granted to James that froze the ability of stablecoin issuer Tether from loaning any more money to its sister company, cryptocurrency exchange Bitfinex. But, Tether’s ability to loan Bitfinex any more money also remains frozen, and all the judge did in limiting the order to 90 days is make the Attorney General’s office reapply for the injunction once a quarter if they want to keep investigating.