A cryptocurrency exchange that claims real dollars back its popular digital coin Tether raided those reserves to cover up $850 million that went missing, the New York Attorney General’s office said Thursday.
State Attorney General Letitia James said Hong Kong-based iFinex Inc., which operates the Bitfinex cryptocurrency exchange and owns Tether Ltd., has been commingling client and corporate funds to cover up the missing funds, which occurred in mid-2018 and hadn’t been disclosed publicly.
I said some thing to others just when cryptocurrency/bitcoins began and I was full of it. Now look what's happening. Who's laughing now? ♀️
If they used Tether's money, then there is a big hole in tether reserve, which mean than 1 USDT = less than $1
First they cover it and then treat it like your stepson. When i said it was a ponzi you praised it into heaven.
YangVentures Bank frauds and abuse on this scale are common place. Crypto will only be stronger as this old guard is exposed and eliminated....bullish AF. $btc bitcoin
YangVentures As it is very difficult to lose fiat money in banking, it is likely the money is frozen due to an ongoing money laundering investigation, undisclosed. If Bitfinex cannot do deposits or withdraws anymore, assuming they follow the court order, their business takes a deadly hit.
BryceWeiner Bullish 😂