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The case showed Tether and Bitfinex’s track record of misleading statements and dubious practices, but gave no credence to claims that tethers were printed to manipulate markets.
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On today’s episode, NLW breaks down the final settlement of the New York Attorney General’s case against Tether. He argues that the outcome is extremely positive for the industry, discussing:
- Why Tether risk became a major source of FUD in 2021
- How conspiracy theories overtook legitimate concerns
- The history of the NYAG’s case against Tether
- Specific findings of the NYAG’s case around two times that Tether was not backed 1-to-1 by U.S. dollars held in Tether bank accounts
- Why there was never any accusation of Tether printing USDT out of thin air to manipulate markets
- The specifics of the settlement
- Why this conclusion clears risk from institutional investors
Image credit: Bubanga/iStock/Getty Images Plus, modified by CoinDesk
