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Breaking: NY AG Alleges Bitcoin Exchange Misused Tether to Hide $850M

By CCN: The office of New York Attorney General Letitia James has officially obtained a court order to request iFinex Inc, the operator of bitcoin exchange Bitfinex and Tether, to cease operations in New York. The Attorney General’s office found that Bitfinex allegedly handed over $850 million in co-mingled client and corporate funds to Crypto Capital Corp, a company based in Panama. Bitfinex is said to have never received the funds from the Panamanian firm, leading to the loss of more than $850 million. The Attorney General’s office alleged Bitfinex granted itself access to Tether’s treasury and mismanaged $900 million

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