Tether and Bitfinex Cooperate With Prosecutors: Critical Documents Are Being Handed Over

united-states attorney

The New York Attorney General’s office (NYAG) said it expects documents related to the alleged $ 850 million debt-closing cooperation between Tether and Bitfinex to be available in the coming weeks.

The reason for this is a letter sent by the attorney general’s office to the Supreme Court on Wednesday, stating that the two companies have been cooperating with the attorney general’s office for some time.

On the issue, NYAG also underlines that documents will be sent after the specified deadline day, that is, the delay. Documents expected to show the relationship between the two companies had previously been requested by the court but were not sent, and a similar warning was issued once again. The attorney general’s office had also issued a decision preventing tether from providing other funding to Bitfinex due to delay/non-submission. The deadline for this decision was set for January 15, 2021, but the institution is expected to extend this period again before the documents arrive.

As it may be remembered, the New York Attorney General’s office had alleged that Bitfinex secretly borrowed money from sister company Tether through payment provider Crypto Capital to cover up the loss of $ 850 million it held on behalf of its customers.

The two companies had previously stated that the documents requested by the court belonged to a very large filing, and therefore it was not possible to send the requested details in a short time. Many people said the two companies did not want to send the documents, and it was claimed that some secrets were kept under this reluctance.

Some executives of Crypto Capital were also accused of hiding money through a global network with accounts in 56 different banks in 2019. It had filed several subpoenas for nearly $ 1 billion in funds lost to Bitfinex.

’ 75 per cent ‘ confession from Tether
As it will be remembered, Tether also made a statement admitting that it did not have the funds to cover all of the USDTs it issued in 2018, and that 75 percent of them were equivalent. Despite this, the USDT has long been the most widely used fixed coin by decidedly. The market value of the USDT fixed coin issued by Tether company is also around $ 20 billion.

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