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Tether to Pay $41 Million for Alleged Misleading Claims That Its Crypto Token Was Fully Backed by US Dollars Reserve

Tether has agreed to pay $41 million (roughly Rs. 307.2 crores) to settle charges levied by US Commodity Futures Trading Commission (CFTC) that says it mislead consumers by claiming that its crypto token was fully backed by US dollars reserve at all times.
Us Commodity Futures Trading Commission Cryptocurrency Tether Futures Trading Commission Dawn Stump Tether Crypto Usd Backed Misleading Claims Us Cftc Charges Settlement Bitfinex Exchange Tether Price In India
Source: ndtv.com

Crypto firms Tether, Bitfinex to pay $42.5 million to settle US CFTC charges

Firms doing business as Tether agreed to pay $41 million to resolve CFTC charges they made misleading claims about Tether's cryptocurrency stablecoin, the CFTC said in a statement on Friday.
Us Commodity Futures Trading Commission Cryptocurrency Tether Futures Trading Commission Dawn Stump Crypto Firms Tether Itfinex To Pay 42 5 Million Settle Us Cftc Charges

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Crypto firms Tether, Bitfinex to pay $42.5 million to settle U.S. CFTC charges

Cryptocurrency Tether and crypto exchange Bitfinex will pay $42.5 million to settle civil charges from the U.S. Commodity Futures Trading Commission (CFTC) over allegedly making misleading statements and making illegal transactions.
Paul Simao Chris Prenticeadditional Chris Prentice Gertrude Chavez Dreyfussediting Thomson Reuters Trust Principles Us Commodity Futures Trading Commission

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