Important Decision from the Court on Tether (USDT)!

stablecoin which dominate the market and have an important place in the crypto money markets. to Tether There has been a new development.

In an ongoing lawsuit for market manipulation in the US USDTA new decision has been made.

In the ongoing lawsuit regarding the use of USDT for artificial inflating and market manipulation of cryptocurrency prices, Judge asked Tether to prove what the USDT was backed by.

In her order to Failla Tether, Judge Katharine Polk requested that important documents be shared to leave no doubt that the USDT is backed by the US dollar.

Tether, which has to comply with the court order, will have to disclose in detail all its assets, including bank statements. The balance sheets, income statements and profit and loss statements of Tether, which is also a commercial company, are expected to be submitted to the court.

Although Tether claims that USDTs are supported by dollars in its quarterly reports, it is accused of not being transparent enough on this issue.

The allegations that Tether was not backed by dollars were investigated by the New York Attorney General’s Office, and Tether closed this investigation with an $18 million settlement.

Now the eyes turned to the documents that Tether will present to the court. With the court decision to be made after these documents, it will be clarified whether Tether is fully supported or not.

although Tether‘s lawyers, USDT Although he objected to the decision, arguing that the reserves were unrelated to the case, the Court ruled that the claims regarding the existence of equivalents of USDTs formed the basis of his case.