NY Judge Orders Tether To Produce Documents Proving USDT Backing

Stablecoin issuer Tether must disclose financial documents to verify that it's backed by the U.S. dollar, New York Judge Katherine Polk Failla says. The company is currently in a lawsuit due to allegations that it manipulated the crypto markets.

Timeline of Tether

In a case which could have significant repercussions for the wider crypto industry, U.S. Judge Katherine Polk Failla has ordered Tether (USDT) to produce accounting documentation to prove the stablecoin is backed by U.S. dollars. The post US Judge Orders Tether to Show The Receipts appeared first on BeInCrypto.

Tether, publisher of the largest stablecoin in the digital asset industry is dealing with legal trouble these days. However, it is also losing its dominance to the USDC, Circle's stablecoin.

On Tuesday, a New York judge ordered Tether and Bitfinex to produce documents showing the backing of the USDT stablecoin. The post Tether, Bitfinex ordered to show financial documents over USDT stablecoin appeared first on The Block.

A New York court ordered Tether to provide financial records showing the backing for USDT. The post New York court orders Tether to provide documents on USDT reserve appeared first on CryptoSlate.

As part of a case that claims Tether colluded to create USDT as part of an effort to raise the price of bitcoin, a U.S. Judge in New York has ordered Tether to submit financial information relevant to the backing of USDT.

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Tether launches USDT on NEAR blockchain as Kujira launches new soft-pegged stablecoin USK. The post Tether (USDT) Launches on NEAR as New Decentralized Rival USK Goes Live appeared first on BeInCrypto.

Stablecoin issuer Tether confirmed the launch of tokens (CRYPTO: USDT) pegged to the U.S. dollar on the NEAR protocol. The introduction of USDT on NEAR will contribute to increasing ecosystem stability and lessen the negative effects of market volatility on users.

Stablecoin issuer Tether announced the successful integration of the USDT stablecoin on NEAR protocol. The post Tether USDT launches on NEAR as protocol launches $100M Web3 fund appeared first on CryptoSlate.

Circle [USDC] has kept Tether [USDT] on its toes in the stablecoin superiority fight since the start of 2022. However, the recent Binance decision to convert other stablecoins except for USDT to Binance USD [BUSD]  has dealt USDC's mission a big blow.