D-day in Bitfinex trial - Will Bitcoin price react?
https://bitcoinist.com/d-day-in-bitfinex-trial-will-bitcoin-price-react/
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ALL EYES ON MONDAY’S TRIAL OUTCOME
As previously reported by Bitcoinist, the Supreme Court of the State of New York will resume hearing on the case between the NYAG and bitcoin exchange platform Bitfinex on Monday (July 29, 2019).
A negative outcome for iFinex — the parent company of Bitfinex, could potentially open the exchange and Tether up to more lawsuits. The NYAG is accusing Bitfinex of covering up $850 million in client losses.
As previously reported by Bitcoinist, the Supreme Court of the State of New York will resume hearing on the case between the NYAG and bitcoin exchange platform Bitfinex on Monday (July 29, 2019).
A negative outcome for iFinex — the parent company of Bitfinex, could potentially open the exchange and Tether up to more lawsuits. The NYAG is accusing Bitfinex of covering up $850 million in client losses.
https://bitcoinist.com/d-day-in-bitfinex-trial-will-bitcoin-price-react/
My view is that they are gonna lose big. Others? What do you all think?
Judge Punts on Decision in NYAG Case Against Bitfinex and Tether
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On Monday, New York Supreme Court Judge Joel M. Cohen said he needed more time to make a final decision on whether to dismiss the NYAG’s case entirely, or rule the other way and reject Bitfinex and Tether’s motion to dismiss. As such, a preliminary injunction he filed in May will be extended, probably for 90 days.
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“The idea is to keep things where they are until the decision of this motion, so the decision is to extend the stay and … extend the injunction.”
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The ruling means Bitfinex and Tether can continue operating their businesses as normal, but Tether still cannot lend any more funds to Bitfinex.
https://www.coindesk.com/judge-punts-decision-nyag-bitfinex-tether
Honestly, I have no idea how it can end.
