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Tether’s General Counsel: iFinex v. NYAG Case Continues with a Court Meeting in 30 Days

Summary:
The January 15th deadline passed, and, as somewhat expected, the parties in the NYAG v iFinex case are yet to conclude the production and submission of the requested documentation.As reported by CryptoPotato earlier, January 15th was a much-anticipated date regarding the case between the New York Attorney General’s office and iFinex – the parent company of both Tether and Bitfinex.On this date, iFinex had to produce a bulk of documents requested by the office of the NYAG. The latter alleges, in a lawsuit, that Bitfinex lost 0 million and then used funds from its affiliated stablecoin issuer (Tether) to cover the shortfall.Nevertheless, tweeting on the most recent developments was the General Counsel, Stuart Hoegner, for both Bitfinex and Tether, who said that they’ve filed a letter to

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The January 15th deadline passed, and, as somewhat expected, the parties in the NYAG v iFinex case are yet to conclude the production and submission of the requested documentation.

  • As reported by CryptoPotato earlier, January 15th was a much-anticipated date regarding the case between the New York Attorney General’s office and iFinex – the parent company of both Tether and Bitfinex.
  • On this date, iFinex had to produce a bulk of documents requested by the office of the NYAG. The latter alleges, in a lawsuit, that Bitfinex lost $850 million and then used funds from its affiliated stablecoin issuer (Tether) to cover the shortfall.
  • Nevertheless, tweeting on the most recent developments was the General Counsel, Stuart Hoegner, for both Bitfinex and Tether, who said that they’ve filed a letter to the court, providing updates on the status of the document production and the next steps.
  • In the said letter, Hoegner explains that “the respondents have largely completed the document production and have produced a substantial volume material to the Office of the Attorney General in the past few weeks,” adding that “there remain supplemental agreed-upon items that need to be completed.”
  • The counsel also explained that the parties “will need a few more weeks” to get this done.
  • Concluding the document, Hoegner said that they “plan to next contact the Court in approximately 30 days to either provide a final status upgrade or to schedule a conference.”
  • In another tweet, the attorney has also said that he believes their discussions with the NYAG are “productive and going well.”

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