Brief: Tether And Bitfinex Legal Imbroglio Tanks Bitcoin Price By 5.8% In Minutes

2019-4-26 01:04

A document unveiled by the New York Attorney General’s (NYAG) office on Thursday has revealed that iFinex, the company behind both Tether (USDT) and Bitcoin exchange Bitfinex, is coming under legal pressure.

Bitcoin Loses 2% As Tether Debacle Comes To Light

In a press release posted earlier this hour, the NYAG’s office revealed that iFinex may be violating “New York law” in relation to activities that “may have defrauded” local investors that trade cryptocurrencies. The office even wrote that it is attempting to expose “ongoing fraud” being perpetrated by Bitfinex and Tether, which are two startups that have long been under fire from cryptocurrency’s demographic of skeptics and conspiracists.

The suit has also revealed that Bitfinex purportedly sent $850 million to a Panama-based company, failed to secure the funds later, and went on to raid Tether’s cash reserves to satisfy its customers later.

According to the official document released by the New York AG's office, Bitfinex sent $850 million to a company based in Panama, didn't get it back, and granted itself access to $900 million Tether cash reserves.

Official document: (https://t.co/DzQkqtHB4d) pic.twitter.com/rZQL55Cncc

— Joseph Young (@iamjosephyoung) April 25, 2019

It isn’t clear how this monumental legal situation is developing behind closed doors, but as analyst Moon Overlord quipped: Bitfinexed, a long-standing, extremely staunch critic of iFinex’s businesses, is likely in “complete euphoria.”

Bitfinexed in complete euphoria

— Moon Overlord (@MoonOverlord) April 25, 2019

As a result of this news, Bitcoin has dropped by 5% in a span of under thirty minutes. BTC is currently trading at $5,150 on Coinbase, which is dramatically lower than the $5,520 seen just one hour ago. Altcoins are posting similar losses.

Some analysts expect for cryptocurrencies to fall further in the coming hours, and even lower if the suit reveals damning criminal evidence about the operations of Bitfinex and Tether.

Featured Image from Shutterstock

The post Brief: Tether And Bitfinex Legal Imbroglio Tanks Bitcoin Price By 5.8% In Minutes appeared first on NewsBTC.

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bitcoin tether legal bitfinex nyag office revealed

Источник: newsbtc.com

bitcoin tether → Результатов: 126


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Tether начнет выпускать свой стейблкоин на блокчейне Bitcoin Cash

Эмитент стейблкоинов Tether официально приступает к выпуску своих токенов на блокчейне Bitcoin Cash, сообщает портал Bitcoin. com. Для этого Tether воспользуется протоколом эмиссии индивидуальных токенов Simple Ledger Protocol (SLP).

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Tether in court: Yep, we sort of, kind of, definitely used our reserves to buy Bitcoin

It appears that contrary to its marketing promises, Tether – a cryptocurrency pegged to the US dollar – used some of its dollar reserves to buy Bitcoin. The stablecoin issuer, which shares management and ownership with cryptocurrency exchange service Bitfinex, has admitted it used its reserves to invest in Bitcoin and other “assets,” according to court transcripts obtained by The Block.

2019-5-22 11:12


Technical Indicator Suggests Tether Trouble Has Put an End to Bitcoin Rally

This week, a scandal involving Bitfinex and Tether parent company iFinex being accused by the New York Attorney General’s office of misappropriating funds has shaken up the cryptocurrency market. Bitcoin and other cryptocurrencies have rallied in recent months, however, the latest negative news surrounding the leading stablecoin on the market has been enough to cut.

2019-4-30 03:01


Bitfinex and Tether Exodus Leads to 7th Most Confirmed Bitcoin Transactions in a Day

Yesterday’s news of Bitfinex being accused by the New York Attorney General’s office of potentially covering up the loss of $850 million using Tether reserves has caused Bitcoin and the crypto market to plummet and investors to panic, not only about the diminishing value of their holdings, but over the entire integrity of the crypto.

2019-4-27 03:01


Tether вновь обогнал Bitcoin Cash

Утром в среду, 6 февраля главная криптовалюта торгуется в незначительный минус. Курс bitcoin просел на 1,06% по информации CoinMarketCap (на 10:00 по МСК). Подешевели все цифровые валюты из топ-5, кроме стейблкоина Tether, который вновь обогнал Bitcoin Cash по капитализации и поднялся на 5 строчку.

2019-2-6 10:38


Bloomberg: Минюст США расследует связь Tether с прошлогодними манипуляциями с bitcoin

Министерство юстиции США инициировало расследование по делу о вероятном манипулировании курсом bitcoin в ходе прошлогоднего ралли криптовалюты. В рамках расследования ведомство намерено выяснить, причастны ли стейблкоин Tether и криптобиржа Bitfinex к неожиданному росту курса bitcoin в конце 2017 года.

2018-11-21 17:10


Джозеф Любин сомневается в причастности Tether к манипуляциям с ценой Bitcoin

Соучредитель Ethereum Джозеф Любин не согласен с обвинениями в манипуляции Tether ценой на Bitcoin в 2017 году. Сообщение Джозеф Любин сомневается в причастности Tether к манипуляциям с ценой Bitcoin появились сначала на Freedman.

2018-8-30 09:04


Фото:

Is Tether Still an Effective Way to Pump Bitcoin Prices?

Bitcoin, the most popular cryptocurrency by many measurements, isn’t half as controversial as Tether — the controversial coin that has polarized the entire crypto community.   Tether somehow has become the bad boy of crypto and has frequently been linked to market price manipulation, but its recent moves have failed to make an impact on NEO and EOS.

2018-8-28 18:01


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