New update on the Tether case with the New York Attorney General’s office… Details here
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Answer New update on the Tether case with the New York Attorney General’s office… Details here
The January 15 deadline passed, and as was more or less expected, the parties to the dispute, the NYAG Office of the Attorney General and iFinex, did not finalize the case even after iFinex submitted the required documents.
as We mentioned earlier January 15 was an important date regarding the case between the New York Attorney General’s office and iFinex – the parent company behind both Tether and Bitfinex.
On January 15, iFinex had to produce a raft of documents requested by the New York Attorney General’s Office (NYAG).
As a reminder, the New York Attorney General’s Office filed a lawsuit claiming that Bitfinex lost $850 million and then used funds from the issuer of the stablecoin (Tether) to cover the shortfall.
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Earlier this week chirp Mr. Stuart Hoegner, General Counsel of Bitfinex and Tether, on the latest developments in the lawsuit said:
They sent a letter to the court, providing updates on the document production status and next steps.
Bitfinex and Tether have completed the issuance of documents and have produced a large amount of material to the Attorney General’s Office in the past few days.
There are still agreed complementary items that need to be completed.
We have just sent this letter in the New York Special Procedure on behalf of all parties. AMA Tweet embed Tweet embed pic.twitter.com/LosOEGVDS6
– Stuart Hoegner (@bitcoinlawyer) Jan 19 2021
The lawyer explained that the parties would need a few more weeks to accomplish this.
At the conclusion of the document, Hujner said they plan to next call the court in about 30 days to either offer an upgrade to final status or schedule a conference.
In another tweet, attorney Hujner said he believes their discussions with the NYAG office are fruitful and going well.
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