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Controversial stablecoin issuer has addressed recent ruling in $1.4 trillion market manipulation lawsuit

Tether [USDT] seems to have returned to hitting the rocks. In a new development, a New York court ordered Tether to provide its financial records to prove its innocence in a case that saw it cost crypto traders over $1 trillion.

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.

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.

Coinspeaker Stablecoin Issuer Tether Ordered by US Court to Show Proof of USDT Backing

If the company produces all the required documentation it will put an end to an issue that has been ongoing for years

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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.

A judge in New York has ordered stablecoin issuer Tether to produce financial documents to assess whether USDT is backed by US dollars.

Tether and Bitfinex were accused of causing over $1 trillion in damages to the cryptocurrency market.

The court accepted the Plaintiffs' requests to provide "undoubtedly important" documents in the alleged fraud case.

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.

As the lawsuit accusing Tether (USDT) and cryptocurrency exchange Bitfinex of conspiracy to issue its stablecoin in order to pump

Tether has been ordered to produce general ledgers, balance sheets, income statements as part of a market manipulation suit tied to USDT

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.

The Sushiswap price prediction indicates that the SUSHI/USDT pair is on the edge ahead of the FOMC decision.

Although the Merge event came and went, cryptos presented a disappointing profile. Here are the key cryptos to watch moving forward.

Often an overlooked part of the cryptocurrency market, stablecoins can be used to determine the current state of the market. The post Research: USDT, USDC exchange balance going in opposite directions appeared first on CryptoSlate.

JPMorgan says Binance's decision to stop supporting USDC could make Tether even more important when it comes to trading.  The post JPMorgan: Binance's USDC move could increase importance of Tether in crypto trading appeared first on The Block.

On September 14, the CTO of Tether and Bitfinex, Paolo Ardoino, said that Ethereum still doesn't match Bitcoin because its narrative keeps shifting.

Paolo Ardoino, CTO of Tether and Bitfinex, said today that Ethereum still doesn't match Bitcoin because its narrative keeps shifting. The post Tether CTO Paolo Ardoino on The Merge: ‘Ethereum still doesn't match Bitcoin' appeared first on The Block.

Paulo Ardoino says Ethereum presents no match for Bitcoin's “solid narrative” around money – even after the Merge. 

Amongst choppy market conditions and an uncertain macroeconomic environment, a new Ethereum-based token, Uniglo (GLO), is rapidly rising to prominence. This new social currency promises an improved store of value and has already risen by 35% in the last month.