New York state attorney general Letitia James today publicly warned crypto industry player to either play by the rules or the authorities will shut you down citing recent actions against Bitfinex and Tether as an example. Letitia James sent a clear message to both crypto industry players as well investors urging them to be cautious.
The crisis with Tether and Bitfinex seems to be escalating as evident from the recent events in the crypto-market. As the firm itself confirmed the discrepancy in the total backed amount by Tether, the general market sentiment is one of ‘abandoning ship’ from Tether. The Bitfinex premium can also be attributed to the Tether issue. Justin Sun, the Founder
Bitfinex has responded to the claims of the Attorney-General of New York who accused the Exchange of covering up “missing funds” to the tune of $850 million. In the statement, AG Letitia James mentioned that the firm had transferred $850 million to a Panamanian firm, Crypto Capital Corp. Furthermore, she also said that Crypto Capital