New York attorney general secures documents from Bitfinex and Tether

The New York attorney general’s office will obtain documents regarding mutual financial dealings between the cryptocurrency exchange Bitfinex and Tether, according to a letter from the office to Judge Joel Cohen.

At the September 17 hearing, the court ordered Bitfinex and Tether to hand over the requested documentation within 90 days. Intercompany transfers were barred for the same period.

The NYAG asked for the deadline to produce the documentation for iFinex, Bitfinex’s parent company and issuer of the stablecoin Tether, to be extended to January 15, 2021.

The prosecution contends that the defendant was involved in preparing the papers, and the production process will be completed ‘in the coming weeks’.

450545 2019 in the Matter of the I v in the Matter of the I LETTER CORRESPONDEN 139 by ForkLog on Scribd

In April 2019, the NYAG accused Bitfinex of attempting to conceal a loss of $850 million through Tether reserves. The exchange disputed the claims.

Later, the New York Supreme Court ordered Bitfinex to hand over documents relating to the loss of access to fiat funds.

Earlier, the company sought to challenge this decision but lost on appeal.

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