The same lawyers who sued Craig Wright for $5 billion are going after Tether and Bitfinex, demanding a staggering $1.4 trillion.
In recent weeks, more than half of all bitcoin trades took place against Tether. Yet few knew for certain if there were dollars backing those tokens. This week, Tether released a letter from its bank, Bahamas-based Deltec, saying, “We hereby confirm that, at the close of business on October 31, 2018, the portfolio cash value of your account with our bank was US$1,831,322,828.” That amount was nearly $55 million above the amount of Tether tokens in circulation. Over and done with, right? Not exactly. Crypto Twitter talmudicly began parsing the letter, particularly the second part, which reads: “This letter is provided without any liability, however arising, on the part of…