The letter comes after a judge had noted that the scope of the OAG court order was too broad. Lawyers for parent firm iFinex Inc., Bitfinex, USD stablecoin issuer Tether and affiliated entities have submitted a letter to Justice Joel M. Cohen on May 13 asking for more leniency in the use of cash restrictions […]
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Paolo Ardoino made fresh comments prior to an official announcement, with a public token purchase phase now unlikely to go ahead. The CTO of cryptocurrency exchange Bitfinex appeared to confirm the entity had raised $1 billion in fresh investment in new social media comments on May 13. Following rumors that began with a major shareholder […]
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Bitfinex shareholder Zhao Dong has reportedly revealed that the exchange has allegedly sealed $1 billion in both hard and soft commitments. Crypto exchange Bitfinex shareholder Zhao Dong has reportedly revealed that the exchange has sealed $1 billion in both hard and soft commitments for its initial native exchange token offering. The news was reported by […]
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Joseph Lubin, founder of blockchain tech company ConsenSys, said that the situation with cryptocurrency trading platform Bitfinex will not likely get better. Joseph Lubin, founder of blockchain tech company ConsenSys, expressed his pessimism regarding the recent situation with cryptocurrency trading platform Bitfinex, Bloomberg reported on May 9. Speaking at the Fluidity Summit conference, Lubin said […]
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Judge Joel M. Cohen refused to dismiss the court order entirely, but took aim at the “amorphous and endless” nature of its accusations. The New York Attorney General cannot bring the full force of its court order against cryptocurrency exchange Bitfinex and stablecoin Tether (USDT), cryptocurrency news media outlet CoinDesk reported, quoting a judge on […]
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Tether, Bitfinex fight back against New York attorney general’s legal claims, as the stablecoin maintains stability. Tether has been one of the most controversial topics in the cryptocurrency community over the last two years — and things have come to a head over the past few weeks. The wider crypto community has been skeptical of […]
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CoinMarketCap’s website explains that prices can be manually excluded from its bitcoin average if it “does not seem indicative of a free market price.” Market data resource CoinMarketCap (CMC) has excluded Bitfinex’s price for bitcoin (BTC) from its global average, its website showed on May 6. The embattled exchange’s BTC price was $5,986.60 at press time — almost […]
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A legal document says the case against the companies lacks basis and uses an incorrect legal standard. The operator of cryptocurrency exchange Bitfinex and stablecoin Tether (USDT) is planning to vacate the court order that accuses it of an $850 million funds loss, a document confirmed on May 5. IFinex, which received scrutiny from the […]
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Stablecoin tether is apparently only backed 74% by cash reserves, and Elon Musk and Vitalik Buterin get friendly on Twitter. Top Stories This Week Fractional Reserve Stablecoin Tether Only 74% Backed by Fiat Currency, Say Lawyers According to documents released by USD stablecoin tether’s (USDT) lawyers, the company behind the stablecoin only has enough fiat […]
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The New York State Attorney General Letitia James has requested the release of documents concerning an alleged deal made between Bitfinex and Tether. The New York State Attorney General (NYAG) Letitia James has requested the disclosure of documents concerning an alleged deal made between cryptocurrency exchange Bitfinex and stablecoin operator Tether. The NYAG’s memorandum of […]
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