In fact, the main worry is that evidence will come to light that Tether created large amounts of USDT out of thin air. A new plaintiff against Tether and Bitfinex. Bitfinex And Tether Win Stay In $900 Million New York Supreme Court Case. Tether and cryptocurrency exchange Bitfinex must face trial in a case regarding the loss of more than $850 million co-mingled client and corporate funds, a NY state appeals court ruled on Thursday.. Bitfinex is accused of engaging in a massive cover-up after it allegedly lost $850 million and then attempted to use funds from sister-entity Tether to cover up the incident quietly. Court Reporter/Transcriber: Khristine Sellin, (212) 805-0300. ... Tether until a future date, if at all. The companies have been under investigation by the New York State Attorney General’s office on allegations of an $850 million cover-up. Tether and Bitfinex lawsuit is still going on and January 15 holds an important date as it is the deadline given by the court to Tether to reveal its business practices and its treasury audit which the company has sighed away for a long. The case began in April 2019, when the Attorney General’s office said Bitfinex had lost access to close to $1 billion in customer funds, and borrowed from Tether’s reserves. Bitfinex and Tether will head to court today, as it’s the date of their scheduled motion to dismiss hearing. On this date, iFinex had to produce a bulk of documents requested by the office of the NYAG. The study presented evidence that proved the alleged involvement of Tether and Bitfinex in the deliberate disruption of the cryptomarket. The deadline for Tether to submit the documents requested by the New York Prosecutor’s Office expires on January 15th, 2021.. On January 15th 2021 Tether is due to produce documents for the lawsuit brought forth by New York Attorney General Letitia James. ... Bitfinex and the Tether cryptocurrency. Tether Goes to Court Lawyers for Tether and Bitfinex parent iFinex have said a class action lawsuit accusing them of market manipulation relies on unfounded allegations. After that date it may be … The plaintiffs’ arguments are supported by a study published last year. NYAG Letitia James in 2019 filed an order to the state Supreme Court, saying that Bitfinex and Tether engaged in a cover-up after losing about USD 851 million of client and corporate funds. The lawsuit was filed in November last year and was part of a series of legal suits alleging market manipulation. Transcript may be viewed at the court public terminal or purchased through the Court Reporter/Transcriber before the deadline for Release of Transcript Restriction. In either case, it is unclear what NYAG James will do next. The Tether Lawsuit. 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