Bitfinex and Tether seek one-month extension to hand over documents to the New York Attorney General

The cryptocurrency exchange Bitfinex needs additional time to hand over documents regarding mutual transactions with Tether to the New York State Attorney General’s Office (NYAG). This was stated by Stuart Hoegner, the attorney representing the companies.

We just filed this letter in the special proceeding in New York on behalf of all parties. AMA @bitfinex @Tether_to pic.twitter.com/LosOEGVDS6

— Stuart Hoegner (@bitcoinlawyer) January 19, 2021

The agency previously asked to extend until 15 January 2021 the deadline for complying with the order for Bitfinex and Tether. On January 19, Hoegner informed the New York Supreme Court that the defendants had gathered a substantial amount of information, but they needed 30 days to finish the process.

On January 10, Tether’s Chief Technology Officer Paolo Ardoino said that the companies had prepared more than 2.5 million pages in response to NYAG’s requests.

Sorry to break this to FUD spreaders. Tether and Bitfinex produced more than 2.5M documentation pages in response to requests from NYAG. Discussions are progressing well. Business as usual after the 15th of Jan. https://t.co/VoEsRuJyyP

— Paolo Ardoino (@paoloardoino) January 10, 2021

In April 2019, the NYAG accused Bitfinex of attempting to conceal an $850 million loss using Tether reserves. The exchange disputed the allegations.

The New York Supreme Court ordered Bitfinex to hand over documents relating to the loss of access to fiat funds. The company sought to challenge the ruling but lost on appeal.

In September 2020, the court ordered Bitfinex and Tether to submit financial statements to the prosecutor and extended the ban on transferring funds.

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