Tether has been ordered by a U.S. Judge in New York to produce financial records relating to the backing of USDT as part of a lawsuit that alleges Tether conspired to issue USDT as part of a campaign to inflate the price of bitcoin.
The order requires Tether to produce “general ledgers, balance sheets, income statements, cash-flow statements, and profit and loss statements”, as well as records of any trades or transfers of cryptocurrency or other stablecoins by Tether including information about the timing of the trades.
It also orders Tether to share details about the accounts it holds at Bitfinex, Poloniex, and Bittrex.
While attorneys representing Tether moved to block the order to release, calling it “incredibly overboard” and “unduly burdensome”, the presiding judge disagreed, writing that the “documents Plaintiffs seek are undoubtedly important.”
‘Enforcement 40’ for 2020
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