NY AG Asks Court for New Order to Make Bitfinex Turn Over Tether Loan Documents

[Galaxy]

The New York Attorney General’s office (NYAG) wants Tether and Bitfinex to immediately turn over documents detailing a $900 million line of credit the first entity extended to the second, according to a new filing with a public court system.

The NYAG’s office began a formal inquiry into Bitfinex and Tether in April 2019, when it alleged Bitfinex had lost access to more than $850 million in customer and corporate funds and covered up the shortfall by borrowing from Tether, with which it shares executives and corporate owners. The NYAG won a ruling that ordered the companies to turn over information pertaining to the extension of credit and the firms’ relationship. The respondents appealed, but lost the appeal in July.
Info Link: https://www.coindesk.com/nyag-court-bitfinex-loan