The case showed Tether and Bitfinex’s track record of misleading statements and dubious practices, but gave no credence to claims that tethers were printed to manipulate markets.

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On today’s episode, NLW breaks down the final settlement of the New York Attorney General’s case against Tether. He argues that the outcome is extremely positive for the industry, discussing:

  • Why Tether risk became a major source of FUD in 2021
  • How conspiracy theories overtook legitimate concerns
  • The history of the NYAG’s case against Tether
  • Specific findings of the NYAG’s case around two times that Tether was not backed 1-to-1 by U.S. dollars held in Tether bank accounts
  • Why there was never any accusation of Tether printing USDT out of thin air to manipulate markets
  • The specifics of the settlement
  • Why this conclusion clears risk from institutional investors

See also: NY AG’s $850M Probe of Bitfinex, Tether Ends in an $18.5M Settlement

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