Bitfinex and Tether settle with New York Attorney General


Site Admin
Apr 2017
The New York Attorney General’s office (NYAG) settled with Bitfinex over a 22-month inquiry into whether the cryptocurrency exchange sought to cover up the loss of $850 million in customer and corporate funds held by a payment processor. This settlement involving Bitfinex and Tether removes what might have been a systemic threat to cryptocurrency markets.

Bitfinex and Tether reach a $18.5M settlement with the New York Attorney General, and Tether has admitted no wrongdoing and will provide reports on USDT’s reserve composition for two years, bringing this long ordeal to a close.

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