Tether Says Its Stablecoin Is ‘Fully Backed’ Again
Tether says its USDT stablecoin is "fully backed by reserves," after reporting in April its token was only 74% backed.
A class-action that alleged Tether and Bitfinex manipulated the bitcoin market has been withdrawn by the plaintiffs.
Crypto Capital principal Reginald Fowler is expected to plead guilty to at least one charge stemming from allegations he ran an unlicensed money services business.
Three class action lawsuits alleging Bitfinex and Tether manipulated the bitcoin market have been combined in federal court, with the stablecoin issuer promising to fight the claims.
In a sharply worded brief, the New York Attorney General's Office has criticized the exchange's tactics in its case involving the Tether stablecoin's backing.
Crypto exchange Bitfinex and its sister firm, stablecoin issuer Tether, have again been accused of working to manipulate the bitcoin markets. Bitfinex has called the suit "mercenary and baseless."