The case showed Tether and Bitfinex’s track record of misleading statements and dubious practices, but gave no credence to claims that tethers were printed to manipulate markets.
This episode is sponsored by Nexo.io.
On today’s episode, NLW breaks down the final settlement of the New York Attorney General’s case against Tether. He argues that the outcome is extremely positive for the industry, discussing:
- Why Tether risk became a major source of FUD in 2021
- How conspiracy theories overtook legitimate concerns
- The history of the NYAG’s case against Tether
- Specific findings of the NYAG’s case around two times that Tether was not backed 1-to-1 by U.S. dollars held in Tether bank accounts
- Why there was never any accusation of Tether printing USDT out of thin air to manipulate markets
- The specifics of the settlement
- Why this conclusion clears risk from institutional investors
See also: NY AG’s $850M Probe of Bitfinex, Tether Ends in an $18.5M Settlement
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