Comprehensive up-to-date news coverage

HomeNewsBusinessTether must produce records proving it has claimed cash reserves, as requested...

Tether must produce records proving it has claimed cash reserves, as requested by a US judge

Published on

Follow us on Google News for latest updates and information.

News Tech: Judge Katherine Polk Failla of the U.S. District Court for the District of Columbia recently presided over a case involving market manipulation that began in 2019. The parent firm of Tether has been ordered to give financial information for its USDT stablecoin by the District Court for the Southern District of New York.

According to the accessible court documents, the New York judge has agreed to accept the plaintiffs’ requests for production (RFPs), which demand that iFinex turn over “any and all general ledgers, balance sheets, income statements, cash-flow statements, and profit and loss accounts.”

The court case is related to an investor lawsuit brought against iFinex. Behind Tether and Bitfinex, a cryptocurrency exchange, lies this organisation. The corporation allegedly issued USDT without any support in an effort to influence the market, according to the plaintiffs.

The judge stated in her judgement that “the Court believes that Plaintiffs’ financial records RFPs are not too broad, especially given that Defendants have had opportunities to make sample productions of the financial records RFPs, but have failed to do so despite Plaintiffs’ agreement to such proposal.

See also  Thieves targeted a small Detroit bus company

Latest articles

Turn On Local User and Group Management Console in Windows 11

Hello everyone, in this article we will tell you how to do it Turn...

Change Video Playback Settings on Windows 11

Hello everyone, in this article we will show you how Change video playback settings...

Turn On/Off System Protection Drive Windows 11

Hello everyone, in this article we will tell you how to do it Turn...

Send Email Using Gmail Confidential Mode

In this article we will talk about how to do it Sending emails using...

More like this

Turn On Local User and Group Management Console in Windows 11

Hello everyone, in this article we will tell you how to do it Turn...

Change Video Playback Settings on Windows 11

Hello everyone, in this article we will show you how Change video playback settings...

Turn On/Off System Protection Drive Windows 11

Hello everyone, in this article we will tell you how to do it Turn...

Send Email Using Gmail Confidential Mode

In this article we will talk about how to do it Sending emails using...

Get Stable Builds of Windows 11 from Insider Program

Hello everyone, in this article we will tell you how to do it Get...

Record Star Movement With A Google Pixel

In this article, we'll show you how Record the movement of the stars with...