Tether Ordered to Produce Documents on Stablecoin: CoinDesk (1)

A US judge has ordered Tether Holdings Ltd. to produce financial records detailing the backing of USDT, the world’s largest stablecoin, CoinDesk reported, citing court documents.

• Order issued Sept. 20 by Judge Katherine Polk Failla in New York was filed as part of a 2019 lawsuit against Tether and Bitfinex, in which a group of traders alleged the two conspired to manipulate crypto market prices and lied about reserves backing USDT
• Polk Failla required Tether and Bitfinex to provide “general ledgers, balance sheets, income statements, cash-flow statements and profit-and-loss statements” as well as records of crypto transactions made
• Legal ...