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Bitfinex Must Face New York’s Accusations Over the Loss of $850M in Co-Mingled Funds

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The popular digital currency trading platform, Bitfinex must deal with the New York Office of the Attorney General (NYAG) over the alleged hiding of over $800 million in client and corporate funds. The NY state Supreme Court’s Appellate Division overruled an appeal on Thursday, after the company put forth the argument that tether (USDT) was … Read more

Bitfinex ‘Copycat’ Lawsuit Withdrawn and Then Refiled in New District

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Ifinex Inc, parent firm of Bitfinex, finds its ongoing legal troubles further complicated as a November lawsuit has been withdrawn by the plaintiff and refiled in a new district. The company, whose close affiliations with both the Bitfinex crypto exchange and stablecoin Tether have continually raised suspicion, now faces at least three ongoing legal battles. … Read more

Tether Plans to Mint Digital Yuan and Commodity Coins, Says Bitfinex Shareholder

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Tether Holdings, the firm that issues tether (USDT), has plans to launch an offshore Chinese yuan stablecoin called CNHT. Tether’s digital dollar presence within the crypto economy has been massive in recent months, seeing significant demand from China. Bitfinex shareholder Zhao Dong has explained in a recent interview that Tether is also preparing to launch … Read more

New York Prosecutors Demand Transparency From Bitfinex and Tether

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The crypto community has been laser focused on the current dilemma between Bitfinex exchange and New York prosecutors over the loss of $900 million of co-mingled customer and corporate funds. After the craziness last week, the New York Attorney General’s (NYAG) office has now demanded that Bitfinex must show transparency by turning over documents tied … Read more

Crypto Community Monitors Bitfinex Wallets and the Strange 6% BTC Premium

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Whether cryptocurrency enthusiasts believe the stablecoin controversy is worrisome or mere FUD, the news surrounding the $850 million of Bitfinex funds locked up has shaken the markets. Now, digital asset traders are closely monitoring the large premium on Bitfinex, where the price of BTC is trading for $300 more than on most spot markets. The … Read more

Markets Update: Crypto Bulls Lose Footing After Stablecoin Controversy

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Cryptocurrencies dropped in value yesterday after the New York Attorney General’s court filings against Bitfinex and Tether were published. Currently, the entire market capitalization is roughly $170 billion and most cryptocurrencies have lost 2-10% of their value since the announcement. Also read: Researchers Find Hundreds of Ethereum Wallets at Risk Due to Weak Key Pairs … Read more