Bitfinex and Tether respond to NYAG in court saying that there is no ongoing fraud, and no victims
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Quick Take
- Bitfinex and Tether moved to vacate the ex parte order “because it was issued based on incomplete or incorrect facts and the wrong legal standard”
- Bitfinex and Tether argue “there was no ongoing fraud, and no “victims” in need of the drastic remedy of an injunction to protect them”
- They argue that NYAG first needs to establish the basis for its authority “to even regulate in this sphere” and require Tether and Bitfinex to “address blunderbuss document demands”
The parent company of Tether and Bitfinex has issued its official court response to the allegations made against it by the New York Attorney General’s Office two weeks ago. iFinex has moved to vacate the court order, which alleged that the companies engaged in a cover-up to hide an alleged $850 million loss of co-mingled […]
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