A New York Supreme Court judge ordered stablecoin issuer Tether to refrain from loaning any funds to Bitfinex or other parties during an ongoing…
Tether has asked a judge for more leeway to use its cash amid the New York Attorney General's investigation of it and Bitfinex.
Recent events involving Binance, Bitfinex and Tether suggest there's potential for "catastrophic, systemic risk in crypto," Dan Cawrey argues.
The NYAG's office has told a court that Bitfinex and Tether must turn over documents detailing the companies' recent financial maneuvers.
Stablecoin issuers are taking advantage of Tether's troubles to promote their cryptocurrencies as more viable alternates.
Crypto ATM firm CoinFlip has postponed adding the Tron version of USDT, citing the New York Attorney General's Tether probe.
Tether's general counsel told the New York Supreme Court that it can only back about 74% of USDT in circulation as of Tuesday.
A quick visual overview of New York's allegations against crypto companies Bitfinex and Tether.
More than 10 million Paxos Standard stablecoins were minted after the New York Attorney General's bombshell allegations about rival issuer Tether.
The crypto markets endured a loss of as much as $10 billion around 21:00 UTC on Thursday, following the NYAG's allegations on Bitfinex and Tether.