Tether pays $18.5 million in penalties; NY Attorney General alleges they don't have the cash reserves they claim
The stablecoin Tether swears up and down that it's fully backed by actual currency, but the New York Attorney General doesn't agree. Tether paid $18.5 million in penalties, was banned from trading in New York, and agreed to submit transparency reports for two years in exchange for ending the long-running legal dispute.
- "Tether, Bitfinex to pay $18.5M to NYAG, cease trading in New York", Amy Castor
- "The curious case of Tether: a complete timeline of events", Amy Castor
- "Cryptocurrency firms Tether and Bitfinex agree to pay $18.5 million fine to end New York probe ", CNBC
- Press release from the New York Attorney General