Judge Joel Cohen orders New York Attorney General Letitia James to prove jurisdiction over Bitfinex and Tether

A court on May 22 ordered New York State Attorney General Letitia James to prove her office has the right to sue Bitfinex and Tether for fraud and securities law violations. On April 24, James sued leading cryptocurrency exchange Bitfinex and stablecoin issuer Tether over a $625 million loan Tether gave Bitfinex after the latter … Read more

Bitfinex tells court Tether invested part of dollar reserves in Bitcoin

The Tether stablecoin is backed in some part by bitcoins. David Miller, an attorney for Tether’s sister firm, cryptocurrency exchange Bitfinex, revealed in court last week that Tether has invested “a small amount” of the reserve dollars backing the tethers (USDt) in bitcoins (BTC). He added that the company had also invested in other undescribed … Read more

It’s Water Under the Bridge as Zuckerberg & Winklevii Talk Crypto: Report

By CCN: Mark Zuckerberg has been collaborating with his old rivals, the Winklevoss twins, to launch a digital currency that can be used across Facebook, WhatsApp, Instagram and beyond, according to a report in the Financial Times. Facebook’s cryptocurrency, reportedly dubbed GlobalCoin, is expected to make its debut next year. The FT reports that Facebook … Read more