New York State Attorney General's Office: New Evidence Proof that Bitfinex Serves New York State Users

According to Coindesk's July 8 report, the New York State Attorney General's Office (NYAG) recently submitted new evidence to prove that cryptocurrency exchanges Bitfinex and Tether serve New York customers longer than they claim.


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NYAG's investigation into Bitfinex and Tether continued, and on July 8, it filed an objection to the New York Supreme Court, a statement of law, a total of 28 pieces of evidence. NYAG stated in the new document:

“Even a cursory review of the facts collected so far in the OAG survey indicates that the respondents have extensive and ongoing contacts with New Yorkers in this investigation.”

The documents also contain a variety of evidence that Bitfinex and Tether have served New York residents for a period of time longer than previously claimed.

CoinDesk reported in May this year that Bitfinex and Tether argued with the judges of the New York Supreme Court that the case should be dismissed because they "have nothing to do with New York investors." "Their platform does not serve New Yorkers and is not in New York. Have done any advertising or other business activities."

However, NYAG said that New York customers have been on the Bitfinex platform based on a series of evidence collected and presented to the court, most recently on December 18, 2018.

In addition, the evidence (S)-H also showed the communication between Bitfnex and the billionaire hedge fund manager Michael Novogratz's Galaxy Digital in October 2018, which was logged in as a Bitfinex customer. platform.

In addition, NYAG also provided evidence that Bitfinex held accounts with two New York banks, Signature Bank and Noble Bank, and at least “another New York financial institution” for Bitfinex and Tether during the relevant time period. The customer proposes a deposit and withdrawal service.” NYAG added:

“The respondents have repeatedly hired companies in New York to assist them in achieving their business goals, including the announcement of the operation of the Bitfinex trading platform and the cash reserves of Tether; in 2019, the respondents opened at least one virtual currency company in New York. transaction account."

NYAG filed a lawsuit against Bitfinex and Tether for the first time in April 2019, alleging that Bitfinex had covered more than $850 million in losses by borrowing from Tether's reserves.