|Tether finds itself in the crosshairs of a fraud investigation by the New York Attorney General’s office. Multiple lawsuits have been consolidated into one class action alleging fraud by Tether and related Bitfinex. |
Apparent losses of $850m is appearing to flow from co-mingled client and corporate funds. This is securities and commodities fraud.
In July founder Brock Pierce said he no longer owns any Tether stablecoin.
|Bitfinex and Tether claim that the money is tied up in a series of asset freezes being enforced by multiple foreign governments. That claim may be tested soon as criminal indictments are expected any day.|
The so called 'digital asset' appears headed for more troubled waters.