• Trading crypto in New York isn't as easy as this picture makes it seem (composite image via Shutterstock).
    Tether

    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.

  • New York State Supreme Court building in Lower Manhattan showing the words "The True Administration of Justice" on its facade (via Shutterstock).
    Tether

    Judge Joel Cohen orders New York Attorney General Letitia James to prove jurisdiction over Bitfinex and Tether

    The New York State Supreme Court may throw out the charges if no New Yorkers were harmed

    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.

  • Fake Tethers under fake bitcoins.
    Tether

    Bitfinex tells court Tether invested part of dollar reserves in Bitcoin

    The revelation came in an attempt to dismiss a fraud and securities law violation suit brought by New York State Attorney General Letitia James

    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.

  • Tether
    Tether

    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.