Tether FUD Hits All Time Highs With NY AG Lawsuit
According to the Wall Street Journal the New York Attorney General’s office is accusing Tether’s parent company of raiding reserves to cover up $850 million that went missing.
Meanwhile, according to the Block, The New York State Attorney General (NYSAG) is suing iFinex Inc (the company behind Bitfinex and Tether).
Instead of me trying to tell the whole story, you should go ahead and check those links (they also link off the official document both publications are pulling from).
Also, while the price of crypto didn’t drop right away, the sharp drop later in the day can probably be summed up as “delayed reaction to Bitfinex NY AG FUD drama stuff.
Read the official Press Release from the New York Attorney General (NY AG): Attorney General James Announces Court Order Against “Crypto” Currency Company Under Investigation For Fraud.