Tether: "yeah, so we lied about 1:1 backing and fraudulentl…
Tether: "yeah, so we lied about 1:1 backing and fraudulently issued 5x more Tether than we had dollars for, into hundreds of millions of dollars worth."
AG: "ok, just pay us $18.5M and start sending reports and we're good."
Replies
Tether: "we admit no wrongdoing suckas"
AG: "fine boys but you'll never do business in NY again. you know, NY, where bourses trade and banks have their HQs."
It's almost like when Hedge Fund managers get caught defrauding millions out of billions of dollars, and instead of being permanently banned from managing funds they are just put in timeout for 2 years. Don't worry, you can still do it, just wait 2 years.
but somebody with multiple masters in lawr told me they are going to jail
online masters in lawr > Attorney General and entire judicial system
Wednesday > Tuesday
Twetdnesday, everything else is just a speculation.
On Soonday we rest.
NY was just a cash grab. SEC will end them.
I thought AG banned bitfinex and tether from operaring in their jurisdiction?
Didn't AG say tethered lied from the beginning?
If true, then any jurisdiction that allows them to operate, does so in full knowledge of the lies the NYAG has stated.
Lawrs are only as good as the ability and will to enforce... so pretty easy not to on any number of excuses
Ah, so there are two cases? One was from New York Attorney General which resolved yesterday and the other is with the SEC? Good to know, I lacked that insight.
No, I'm speculating on SEC. But I can't imagine they won't start an investigation after the NYAG findings.