On Thursday, April 25, reports surfaced that The New York Attorney General’s office is looking into Bitfinex. Specifically, NYAG Letitia James said she had received a court order against iFinex Inc., which is the company behind Bitfinex. The order told them to stop breaking New York law.
Here’s what we know.
The Bitfinex and Tether Issue: April 2019
According to reports, The New York Attorney General’s office is looking into iFinex. Why? Because the office alleges that Bitfinex lost more than $800 million. The crypto exchange then proceeded to use funds from Tether, a stablecoin operator also operated by iFinex, to cover the shortfall.