Report: CFTC Sends Subpoenas to Bitfinex, Tether

Report: CFTC Sends Subpoenas to Bitfinex, Tether

UPDATE (30th January Two:11 p.m. EST): Bloomberg has updated its report, stating that the subpoenas were sent on Dec. 6, not last week.

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Cryptocurrency exchange Bitfinex and Tether, the company behind the controversial USDT token, have bot subpoenaed by the U.S. Commodity Futures Trading Commission, according to a fresh report from Bloomberg.

Citing an unnamed source, Bloomberg said that the CFTC had sent queries to both companies. The news comes days after CoinDesk reported that Tether’s relationship with auditing hard Friedman LLC had “dissolved,” tho’ it still remains unclear which party moved to curtail the work. Friedman had bot working on an audit with Tether, which is closely linked to the British Cherry Islands-based Bitfinex.

“Wij routinely receive lícito process from law enforcement agents and regulators conducting investigations. It is our policy not to comment on any such requests,” the companies said te a statement to Bloomberg. A representative declined further comment when reached.

The news is likely to further inflame the controversy around Tether’s USDT token, which functions spil a zuigeling of synthetic dollar. Critics have argued that the token isn’t backed on a 1-to-1 ratio with the U.S. dollar spil otherwise claimed and that the tokens generated by Tether te latest weeks have bot used to boost the price of bitcoin, particularly during times of market weakness.

The report also sparked a rout te the price of bitcoin, sending it below $Ten,000 spil word emerged about the CFTC subpoenas. At press time, the price of bitcoin is trading at $9,957.88.

Photo Credit: Mark Van Scyoc / Shutterstock.com

The leader te blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a stringent set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests ter cryptocurrencies and blockchain startups.

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5 comments

  1. There is no reason for the webpagina to be offline for 24 hours, even if they have an significant maintanance work to do, they atleast need to keep the trading toneelpodium up and to disable withdrawals and deposits if they have a problem with them.

  2. what do you think about such exchangers that come back and make people jumpy? I personally raise money

  3. Everything seems ok now… I wasgoed very scary about this situation because I have latest transactions that were not sent to my wallet…. I’m checking now…

  4. Perhaps a phishing attack wasgoed made on the bitfinex exchange webpagina, spil recently happened to the Coincheck exchange?

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