U.S. Regulators Send Tether and Bitfinex Subpoenas

[jamie.redman1]

There’s been a lot of discussion and controversy surrounding Tether (USDT) a digital asset that claims to be backed by the U.S. dollar. Now according to reports, the U.S. Commodity Futures Trading Commission has subpoenaed the cryptocurrency exchange Bitfinex and the company Tether for unknown reasons.

A lot of skeptics believe that the digital currency Tether USDT is not backed by the U.S. dollar and may have pumped the entire cryptocurrency economy during 2017’s phenomenal year. Just recently news.Bitcoin.com reported on Tether severing ties with its auditor, so cryptocurrency enthusiasts are still left in the dark regarding USDT’s so-called backing. Tether has still not proven that it holds $2.3 billion USD in reserves. Now according to the financial publication Bloomberg the CFTC had sent subpoenas to both Tether and Bitfinex on December 6, “a person familiar with the matter” explains.

Read More Here >>> https://news.bitcoin.com/u-s-regulators ... subpoenas/