{"id":130835,"date":"2020-12-11T04:57:30","date_gmt":"2020-12-11T01:57:30","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ny-attorney-general-expects-documents-within-weeks-in-bitfinex-tether-case\/"},"modified":"2020-12-11T04:57:30","modified_gmt":"2020-12-11T01:57:30","slug":"ny-attorney-general-expects-documents-within-weeks-in-bitfinex-tether-case","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ny-attorney-general-expects-documents-within-weeks-in-bitfinex-tether-case\/","title":{"rendered":"# NY Attorney General expects documents within weeks in Bitfinex\/Tether case"},"content":{"rendered":"

“# NY Attorney General<\/a> expects documents within weeks in Bitfinex\/Tether case <\/strong>”
\n<\/p>\n

The Office of the New York Attorney General, or OAG, has requested a deadline extension for iFinex Inc \u2014 the parent company of both crypto exchange Bitfinex and stablecoin issuer Tether \u2014 to produce the documents requested for their ongoing legal battle.<\/p>\n

On Dec. 9, 2020, the OAG wrote<\/a> to Justice Joel Cohen to request the deadline be pushed back until Jan. 15, 2020 \u2014 presumably a typo and actually a request for the same date in 2021.<\/p>\n

The request followed a virtual hearing on Sep. 17, that concluded with the judge ordering a 90-day extension for Ifinex to produce documents relating to business dealings between Bitfinex and Tether in April 2019 \u2014 when the OAG accuses Ifinex of having commingled funds between the two companies to cover up $850 million that Bitfinex lost by engaging the services of shadow-bank, Crypto Capital.<\/p>\n

The OAG asserts that Ifinex has cooperated in producing the requested documents since the Sep. 17 hearing, predicting that the process will be \u201cfinalized in the coming weeks.\u201d<\/p>\n

Despite the persistent controversy, Tether\u2019s USDT has seen yet another record year for adoption, with the stable token expanding to operate on the Omni, Ethereum, Eos, Algorand, Liquid, and Solana networks.<\/p>\n

According to CoinMarketCap, Tether\u2019s capitalization has increased 382% from $4.1 billion at the start of January to more than $19.76 billion today \u2014 suggesting that Tether\u2019s May 2019 admission<\/a> that USDT was only backed 74% by cash and cash equivalents has done little to dampen demand for the stablecoin.<\/p>\n

Tether\u2019s relative volume dominance over BTC has also extended to 65.5%, compared to 16.2%<\/a> at the start of the year. USDT currently represents 38% of combined crypto volume.\n<\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“# NY Attorney General expects documents within weeks in Bitfinex\/Tether case ” The Office of the New York Attorney General, or OAG, has requested a deadline extension for iFinex Inc \u2014 the parent company of both crypto exchange Bitfinex and stablecoin issuer Tether \u2014 to produce the documents requested for their ongoing legal battle. On…<\/p>\n","protected":false},"author":1,"featured_media":130836,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/7490cdcd-9b55-494a-a0c5-70b4b34dda12.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74881,75972,74860,117,55229,3885,36041],"class_list":["post-130835","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitfinex","tag-crypto-capital","tag-cryptocurrency-exchange","tag-business","tag-law","tag-new-york","tag-tether"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/130835","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=130835"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/130835\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/130836"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=130835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=130835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=130835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}