Crypto

Tether Ordered to Produce Documentation of USDT Backing

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.

Tether is entitled to produce balance sheets, Income statements, cash flow statements, general ledger, and any trade or transfer of the cryptocurrency or other stablecoin by including the time the trade took place 

Tether to disclose details concerning Bitfinex, Poloniex, and Bittrex

Additionally, it directs Tether to divulge information regarding its bitfinex