A judge in the US Court of New York asked Tether for financial records regarding the process of supporting USDT.
Tether, which has come to the fore with different lawsuits, is moving from court to court. Tether, allegedly trying to inflate the price of Bitcoin (BTC), is facing a new problem.
Court Demands Financial Records of USDT from Tether
Judge Katherine Polk Failla of the U.S. Court of New York has requested financial record of supporting USDT, alleging that Tether conspired to issue USDT as part of its campaign to inflate the price of Bitcoin.
General ledgers, balance sheets, income statements, cash flow statements, profit and loss statements were requested in the request. It was also stated that records of any cryptocurrency or other stablecoin trades or transfers made by Tether should be provided.
Tether’s lawyers objected, describing the request as too burdensome. Judge Katherine Polo Failla supported that the plaintiffs clearly needed this information and that these documents were undoubtedly of paramount importance:
“The lawsuit alleges that investors traded crypto commodities using USDT and these transactions were strategically timed to inflate the market. For this, these documents are necessary”
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