Tether and Bitfinex Drop Initial Opposition to FOIL Request by News Publications
Tether and Bitfinex have dropped their initial opposition to a freedom of information (FOIL) request made by several news publications, including Coindesk. The companies have stated that they are committed to transparency but will not be releasing all their documents. They have called for responsible document review before any public release of information. The FOIL request was made after Tether and Bitfinex settled a legal dispute with the New York attorney general's office and agreed to submit quarterly transparency reports for two years.
Tether: Issuing an additional 1 billion USDT on the TRON network
Paolo Ardoino, CEO of Tether, announced on social media that Tether has issued 1 billion USDT on the Tron network. Please note that this is authorized but not yet issued, which means that this issuance will be used as inventory for the next issuance request and chain exchange.
A giant whale received 75 million USDT from Tether Treasury and transferred it to the exchange
According to data monitored by Lookonchain, in the past two hours, a whale received 75 million USDT from Tether Treasury and deposited it again into Kraken and Coinbase. Since October 20th, the whale address has received a total of 1.067 billion USDT from Tether Treasury and deposited it into exchanges.
Financial Times: Tether keeps more than $1 billion in Britannia Financial Group subsidiary
On November 21, Tether has reportedly deposited over $1 billion with Britannia Financial Group's subsidiary, as reported by the Financial Times citing London's High Court documents. The deposit is said to be related to a legal dispute between Britannia Financial and Arbitral International, a company registered in the British Virgin Islands.According to court documents, Tether opened an account with Britannia Financial's subsidiary in November 2021.
Tether Freezes $225 Million Linked to Human Trafficking Syndicate, Helps US Department of Justice
Tether, the issuer of the third-largest digital currency USDT, has frozen $225 million believed to belong to a human trafficking syndicate in southeast Asia. The self-custodied digital wallets holding USDT were linked to a "pig butchering" scam, and Tether worked with crypto exchange OKX and blockchain analysis firm Chainalysis to track the funds and alert the authorities. Tether CEO Paolo Ardoino said the collaboration with the U.S. Department of Justice underscores the company's dedication to fostering a secure environment and setting a new standard for safety within the crypto space. However, Tether is a controversial company that has been slow to provide documentation to prove the backing of USDT and is not independently audited.
Tether: Following investigations by OKX and the U.S. Department of Justice, Tether voluntarily freezes 225 million USDT related to international criminal groups.
On November 20th, USDT issuing company Tether announced on its official website that OKX announced today that they have cooperated with the US Department of Justice (DOJ) to conduct an investigation, which led to Tether voluntarily freezing about 225 million USDT tokens in external self-hosted wallets, which are associated with an international human trafficking group in Southeast Asia, which is involved in leading the global "pig-killing plate" scam.
An address holding 1 million USDT was frozen
According to Whale Alert monitoring, at 21:25:11 Beijing time, an address holding 1,000,000 USDT on the Ethereum blockchain has been frozen.
Tether to Invest $500M in Bitcoin Mining Venture
Tether Holdings Ltd has announced a 3-year plan to invest $500 million in its Bitcoin mining venture, with the aim of becoming one of the world's top Bitcoin mining companies. The funds will be used to construct crypto mining sites and purchase stakes in other companies. Tether hopes to hit 120 megawatts in its mining operations by the end of the year and 450 megawatts by the end of 2025. This move marks a pivot away from Tether's USDT token and could transform the competition around it.
Tether plans to invest approximately $500 million in Bitcoin mining over the next six months,
According to Bloomberg's report, Tether Holdings Ltd. is taking steps to become one of the world's top Bitcoin miners. The company's incoming CEO, Paolo Ardoino, stated in an interview that the company plans to invest approximately $500 million over the next six months to achieve this goal by building its own mining facilities and investing in other companies. This investment includes a portion of the $610 million credit arrangement provided by Tether to the Bitcoin mining company Northern Data AG, which went public this month. Tether also acquired shares of Northern Data AG in September.
Tether: Judge dismisses class action lawsuit against Tether and Bitfinex, plaintiffs drop appeal
Tether announced that the Chief Judge of the Federal District Court in the Southern District of New York rejected Shawn Dolifka's class action lawsuit against Tether and Bitfinex, and Dolifka decided not to appeal. The judge ultimately ruled in favor of Tether and Bitfinex, dismissing the lawsuit. In the statement, Tether stated that Dolifka's decision to waive his right to appeal was the correct decision, as his claims had no basis, and further litigation would not bring any economic or other benefits to him or his lawyers. Tether emphasized that they will never become victims of shameless litigation extortion.
