CRYPTOCURRENCY
iFinex Collaborates with El Salvador Government to Develop Digital Asset and Securities Framework
iFinex, the parent company of Bitfinex, partners with El Salvador to create a robust legal framework for digital assets and securities.
US Congress Proposes Bill to Restrict Government Interactions with Foreign Adversarial Blockchain Networks
US Congress introduces H.R.6307, limiting government interactions with Chinese blockchain networks, addressing national security and data privacy concerns, and urging increased scrutiny in the technology sector.
iFinex Proposes $150 Million Share Buyback from Bitfinex Hack Victims
iFinex, Bitfinex's parent company, plans a $150 million share buyback to re-acquire shares given as compensation for a 2016 hack. The offer follows a valuation surge from $120 million in 2016 to $1.7 billion, providing an exit route for investors. Shareholders have until October 24 to respond to the buyback offer.
Tether Ordered by New York Judge to Document USDT Backing
The presiding judge ordered Tether to provide evidence of the USDT backing of its reserves at the time. The company is required to provide financial documents to the court.
US Court to Determine Which Law Firm Should Lead Classic Action Against Tether
Tether (USDT) stablecoin issuer, IFinex and its subsidiary, Bitfinex exchange are facing charges of allegedly manipulating the price of Bitcoin in 2017. Although the company, on the other hand, is vehemently in denial of the charges levelled against it.
Bitfinex Permitted to Withhold Documents About Alleged $850 Million Cover-up
The Appellate Division of the New York Supreme Court has ruled that Bitfinex is legally allowed to withhold documents pertaining to the alleged cover-up of an $850 million loss on its trading platform.