• Latest
Crypto Exchange Bitfinex Repaid $100 Million to Stablecoin Operator Tether

Crypto Exchange Bitfinex Repaid $100 Million to Stablecoin Operator Tether

July 2, 2019
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Litecoin

Crypto Exchange Bitfinex Repaid $100 Million to Stablecoin Operator Tether

coinnewsdaily by coinnewsdaily
July 2, 2019
in Litecoin
0
Crypto Exchange Bitfinex Repaid $100 Million to Stablecoin Operator Tether
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Bitcoin Will Overtake Gold’s MarketCap in 9 years, Says Bobby Lee |

Sell or hodl? How to prepare for the end of the bull run, Part 2

April 10, 2022
How to prepare for the end of the bull run, Part 1: Timing

How to prepare for the end of the bull run, Part 1: Timing

April 3, 2022

Cryptocurrency exchange Bitfinex announced that it repaid $100 million of outstanding loan facility to stablecoin operator Tether in a post on its official blog on July 2.

Per the announcement, Bitfinex made the repayment via wire transfer to Tether’s bank account and the amount was not yet due to be paid to the operator under the facility. Still, the exchange reportedly made the decision to complete the prepayment based on its financial position at the end of the second quarter of 2019. The post concludes:

“Also on July 1st, Bitfinex fully prepaid all interest accrued under the loan facility to Tether up to the end of day on June 30, 2019, also in fiat.”

As Cointelegraph reported in May, the New York Supreme Court granted Bitfinex and Tether the stay of demands for which they applied on May 21. 

According to the original filing, Bitfinex never revealed a loss to investors and executives of the exchange and Tether engaged in a series of conflicting corporate transactions. With those transactions, Bitfinex allegedly got access to up to $900 million of Tether’s cash reserves and used them to hide their insolvency.

Bitfinex is accused of taking no less than $700 million from Tether’s reserves and using the funds to hide losses and inability to handle clients’ withdrawals.

More recently, Bitfinex announced a burn initiative for its LEO token, which will see the exchange’s parent company iFinex funnel its gross revenue into purchasing LEO tokens at market prices and then destroying them.



Credit: Source link

Tags: Litecoin
Share76Tweet47
Previous Post

Why IBM’s Blockchain Isn’t a Real Blockchain

Next Post

What Crypto Exchanges Do to Comply With KYC, AML and CFT Regulations

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

Bitcoin Will Overtake Gold’s MarketCap in 9 years, Says Bobby Lee |
Bitcoin

Sell or hodl? How to prepare for the end of the bull run, Part 2

April 10, 2022
How to prepare for the end of the bull run, Part 1: Timing
Bitcoin

How to prepare for the end of the bull run, Part 1: Timing

April 3, 2022
Bull or bear market, creators are diving headfirst into crypto
Alt Coin

Bull or bear market, creators are diving headfirst into crypto

April 2, 2022
crypto listing and delisting announcements: week 9
Alt Coin

Crypto Listing and Delisting Announcements: Week 9

February 28, 2022
unstable markets how to invest in cryptocurrency
Alt Coin

How to invest in cryptocurrency when the market is uncertain, explained

December 21, 2021
be your own banker secrets
Alt Coin

Bitcoin and Crypto Wallet Hygiene 101

November 22, 2021
Load More
Next Post
What Crypto Exchanges Do to Comply With KYC, AML and CFT Regulations

What Crypto Exchanges Do to Comply With KYC, AML and CFT Regulations

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$23,012.00-0.25%
  • ethereumEthereum(ETH)$1,565.67-1.85%
  • tetherTether(USDT)$1.00-0.11%
  • binancecoinBNB(BNB)$305.33-0.68%
  • rippleXRP(XRP)$0.409182-0.74%
  • cardanoCardano(ADA)$0.382047-0.93%
  • dogecoinDogecoin(DOGE)$0.0876870.42%
  • matic-networkPolygon(MATIC)$1.14-1.74%
  • okbOKB(OKB)$38.776.78%
  • solanaSolana(SOL)$23.90-1.38%
  • polkadotPolkadot(DOT)$6.36-2.47%
  • shiba-inuShiba Inu(SHIB)$0.0000120.38%
  • litecoinLitecoin(LTC)$88.53-0.71%
  • tronTRON(TRX)$0.062905-1.19%
  • daiDai(DAI)$1.00-0.06%
  • cosmosCosmos Hub(ATOM)$13.09-1.26%
  • chainlinkChainlink(LINK)$7.16-2.35%
  • leo-tokenLEO Token(LEO)$3.76-1.95%
  • moneroMonero(XMR)$185.293.49%
  • ethereum-classicEthereum Classic(ETC)$21.62-1.36%
  • bitcoin-cashBitcoin Cash(BCH)$131.47-2.25%
  • stellarStellar(XLM)$0.0925970.15%
  • crypto-com-chainCronos(CRO)$0.080933-0.52%
  • filecoinFilecoin(FIL)$5.22-2.92%
  • algorandAlgorand(ALGO)$0.2553310.82%
  • vechainVeChain(VET)$0.024047-3.27%
  • internet-computerInternet Computer(ICP)$6.00-0.43%
  • aaveAave(AAVE)$83.68-3.49%
  • eosEOS(EOS)$1.09-2.34%
  • elrond-erd-2MultiversX(EGLD)$44.27-1.09%
  • theta-tokenTheta Network(THETA)$1.07-4.66%
  • tezosTezos(XTZ)$1.10-1.01%
  • paxos-standardPax Dollar(USDP)$1.00-0.11%
  • bitcoin-cash-svBitcoin SV(BSV)$43.38-1.81%
  • huobi-tokenHuobi(HT)$5.111.24%
  • havvenSynthetix Network(SNX)$2.45-3.99%
  • pancakeswap-tokenPancakeSwap(CAKE)$3.99-0.61%
  • iotaIOTA(MIOTA)$0.236000-2.93%
  • zcashZcash(ZEC)$45.09-2.50%
  • makerMaker(MKR)$648.42-2.68%
  • neoNEO(NEO)$8.17-0.89%
  • dashDash(DASH)$50.50-2.73%
  • zilliqaZilliqa(ZIL)$0.029198-0.47%
  • basic-attention-tokenBasic Attention(BAT)$0.259426-1.69%
  • compound-governance-tokenCompound(COMP)$55.54-3.94%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • nemNEM(XEM)$0.038477-3.48%
  • kusamaKusama(KSM)$36.150.52%
  • bitcoin-goldBitcoin Gold(BTG)$17.42-0.41%
  • wavesWaves(WAVES)$2.782.56%
  • qtumQtum(QTUM)$2.63-3.20%
  • ftx-tokenFTX(FTT)$1.89-21.50%
  • sushiSushi(SUSHI)$1.29-4.20%
  • golemGolem(GLM)$0.245037-1.60%
  • yearn-financeyearn.finance(YFI)$7,413.46-3.02%
  • omisegoOMG Network(OMG)$1.46-2.87%
  • ontologyOntology(ONT)$0.213911-2.56%
  • digibyteDigiByte(DGB)$0.010612-4.12%
  • umaUMA(UMA)$2.080.87%
  • ethlendAave [OLD](LEND)$0.53-3.08%
  • UniswapUniswap(UNI)$2.4438.80%