Bitfinex & Tether Under Fire As New York Attorney General Investigates Possible $850 Million Fraud

Speculation of insolvency, and rumors of foul play are surrounding Bitfinex as New York Attorney General Letitia James has filed a claim against the exchange’s parent company, iFinex, accusing it of financial fraud. The claim asserts that the company has moved as much as USD $850 million held in reserve for the Tether stablecoin into Bitfinex accounts to make up for a massive funding gap. BItfinex and Tether are technically separate entities, but they are owned and operated by the same ind