WebOct 15, 2024 · The Commodity Futures Trading Commission (CFTC) fined Bitfinex and Tether more than $42 million on allegations that the USDT stablecoin was not fully backed at all times and that Bitfinex violated a previous agency order. The federal commodities regulator settled charges with the sibling crypto companies on Friday, barring both firms … WebOct 18, 2024 · Since its launch back in 2014, Tether has claimed that its token is 100% backed by fiat currency. However, the CFTC has found that from at least 1 June 2016 to …
The Downfall of a Stablecoin: Tether’s Long History of Scandals
WebOct 15, 2024 · The CFTC further says that between 2016 and 2024, Tether had sufficient reserves that amounted to less than a third of the 26-month period during which it … WebOn Friday October 15, 2024, the Commodity Futures Trading Commission (CFTC) issued an enforcement order (Tether Order) against the issuers of the U.S. dollar Tether token (USDT), a leading stablecoin, and fined those issuers $41 million for making untrue or misleading statements about maintaining sufficient fiat currency reserves to back each … christmas sweets hs code
Why Tether And Bitfinex Were Hit With CFTC Fines Totaling $42.5M
WebOct 16, 2024 · Today, the leading stablecoin issuer Tether and the crypto companies Bitfinex were hit with a $41 million fine by the Commodity Futures Trading … WebOct 19, 2024 · The Commodity and Futures Trading Commission (CFTC) has fined Tether $41 million for allegedly making “untrue or misleading statements” about the stablecoin’s US dollar backing. The CFTC has also fined sister company Bitfinex $1.5 million The Tether stablecoin is designed to always be worth $1 and fully backed by reserves. WebOct 15, 2024 · CFTC Orders Tether and Bitfinex to Pay Fines Totaling $42.5M Hacker News CFTC Orders Tether and Bitfinex to Pay Fines Totaling $42.5M (cftc.gov) 200 points by VHRanger 3 months ago hide past favorite 197 comments arcticbull 3 months ago next This settlement only covers up until February 2024. get my truck painted