A US judge in New York has requested detailed information on transactions and reserves from Tether (USDT), the largest stablecoin.
A New York-affiliated judge dismissed Tether’s needlessly USDT by launching Bitcoin, in particular, inflating the prices of cryptocurrencies came to the fore with his allegations. Judge Katherine Polk Faillahas requested records of historical general ledgers, balance sheets, income statements, cash flow statements and profit and loss statements from Tether as well as records of any cryptocurrency trades made by Tether.
In addition to the aforementioned requests, Tether’s Bitfinex, Poloniex and Bittirex Detailed information about the accounts he has on cryptocurrency exchanges is also requested. Tether lawyers, who made statements on the subject, said that the requests in question burdensome to exorbitant proportions claimed it was.
Not the First Lawsuit Against Tether
Tether side before Many similar charges have been filed. and a lawsuit was filed. The company, which has successfully evaded all accusations so far, has finally February 2021After a 22-month process, the investigation opened by the New York Attorney General’s Office in managed to conclude in their favour..
These cases, viewed as negative in the short-term, provide positive and important foundations for long-term integration, according to Judge Failla. Still, it looks like the largest stablecoin will need to do more to prove itself.