Bitcoin (BTC) and other cryptocurrencies recovered partially from their biggest sell-off in a month after the New York state Attorney General’s office announced a settlement of a dispute involving the stablecoin tether (USDT) that had rattled market confidence in recent weeks.
Prices for bitcoin (BTC, -1.31%), the largest cryptocurrency by market value, jumped to $49,000 after the announcement, having hit lows below $45,000 earlier Tuesday. As recently as Sunday, bitcoin had pushed to a new record high above $58,000.
“After 2.5 years and 2.5M pages of info shared, we admit to no wrongdoing and will pay US$18.5M to resolve this matter,” Bitfinex tweeted, adding that no finding states that Tether ever issued [the stablecoin] without backing or to impact crypto prices.
Source