NYAG’s Latest Filings Claim Bitfinex and Tether Operated in New York Until January 2019


  • The Attorney General for the state of New York recently submitted a new court filing in which he claimed that BitFinex and Tether had been dealing with NY-based clients till the beginning of 2019.
  • Even though Bitfinex’s PR team claims that the firm severed its associations with its New York customers back in 2015, digital data such as IP addresses (from around that time period) seems to suggest otherwise.

As per a host of new court filings obtained from the New York Attorney General’s Office (NYOAG), Bitfinex and Tether allowed new users (from the NY area) to subscribe to their platform till as late as January 2019 — despite the firm having received explicit orders for the justice department to stop all of their ongoing operations within the region.

For those of our readers who may not be aware of this entire episode, the NYOAG first filed a lawsuit against Bitfinex a few months back when it came to light that the trading platform has manipulated its losses that were estimated to be worth $850 million. The entire cover up was carried out through the use of Tether’s USDT stablecoin offering.

Over the past couple of months, the NYOAG has been fighting both Bitfinex and Tether in court. However, the firms have maintained their position that because they never operated out of New York, they should not be subject to the legalities of the region.

However, as per the aforementioned filings, both firms have a number of ties to the state since Bitfinex has previously provided its services to many New Yorkers (over the years.)

The OAG has supplied the court with IP addresses and other additional evidence that clearly showcases Bitfinex’s association with NY-based crypto investors — till as late as January, 2019.

Till date, Bitfinex operates without a BitLicense that is issued by the New York Department of Financial Services.

Lastly, the filing states that Bittrex was allowing its clients to trade USDT up until a couple of months back (April 2019 to be exact).

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