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Cryptocurrency Ecosystem => Stable Coins Forum => Topic started by: Malam90 on January 20, 2021, 02:12:59 PM

Title: Tether and Bitfinex seek further 30 days to produce critical trial documents.
Post by: Malam90 on January 20, 2021, 02:12:59 PM
iFinex Inc — the parent company of crypto exchange Bitfinex and stablecoin issuer Tether (USDT) — has written to the New York Supreme Court requesting that its upcoming trial date be pushed back even further.

According to a filing submitted to the New York court system on Jan. 19, the legal counsel for iFinex Inc requested another 30 days to produce the documents demanded by the Office of the Attorney General (OAG).

The document production process was supposed to be completed by Jan. 15 — a date which itself was an extension on the original deadline of Dec. 16. Legal counsel for the defendant, Charles Michael, said in Tuesday’s court filing that a “substantial volume” of material had already been handed over to the OAG, but that there remained “supplemental agreed-upon items” that still had to be sourced.

The filing noted that, in addition to the time it will take to produce the documents in question, extra time will also have to be set aside for the OAG to analyze their importance. News source (https://cointelegraph.com/news/tether-and-bitfinex-seek-further-30-days-to-produce-critical-trial-documents)
Title: Re: Tether and Bitfinex seek further 30 days to produce critical trial documents.
Post by: Freemind on January 20, 2021, 02:30:57 PM
After so many years saying that everything was legal, that everything was fine, that each USDT was backed by a dollar, it seems that we are going to leave our doubts. I hope everything is fine and does not start something similar to what is happening to Ripple and XRP because if something goes wrong the market will suffer a lot.

If everything is legal and there are no cheating on Bitfinex's part, I don't know why they have asked for extensions to present the documents and end this...

Title: Re: Tether and Bitfinex seek further 30 days to produce critical trial documents.
Post by: damsix on February 04, 2021, 07:01:15 AM
30 days is equivalent to 1 month And it's quite a long time to claim a case in court.
Looks like Tether and Bitfinex are buying time for the trial that brought them down.
I'm sure the team from Tether and Bitfinex is feeling resentment over what has happened but this is only the beginning because I believe Tether and Bitfinex can give honesty to what they have created for the USDT coin.