Attorneys for Tether and Bitfinex are hoping to get the former access to its reserves amid a legal dispute with New York Office of the Attorney General (NYOAG).
The development brings yet another twist to the
On the other hand, Bitfinex
In this recent letter sent to the court, iFinex's attorneys noted that the two sides have been unable to reach a consensus on what Tether should be allowed to do with its holdings. The respondents also expressed their concern that the injunction sought by the NYOAG could have significant effects on Tether’s operations and financial strength.
“While Tether does not anticipate that it will suddenly become unprofitable, OAG’s language would potentially require the company to cut off salary and other ordinary course payments in any given period if, for whatever reason, there was insufficient profit,” the document reads.
As a compromise, the respondents’ attorneys asked that the injunction be reduced to 45 days. They also want affiliated entities to have the ability to redeem their tokens within that period.
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