NY AG Inflicts Massive $25 Fine on Tether
Sending a strong message to all crypto-related businesses Tuesday, the New York Attorney General's office reached a settlement with Bitfinex and Tether that will see the firms pay a full $25 fine for their alleged $850 million in lost funds.
“Today we proved we're not messing around,” said New York Attorney General Letitia James to XRP_Productions concerning the hefty fine. “And let this be a warning: anyone who tries to cover up hundreds of millions of dollars better be ready to fork over a Jackson AND a Lincoln.”
NY Attorney General Letitia James threatening to “add 3 hours of community service” to any future crypto-related firm that tries to get away with a billion dollars of chicanery.
With the settlement, the legal dispute — which has been ongoing since 2019 — comes to a close.
“We admit no wrong doing, of course,” said Tether CEO Reeve Collins, appearing to do everything he could to hold back laughter. “But just to get this over with, we'll agree to pay this... massive... fine... BWAHAHAHAHAAAAAAAAAA AAAAAAHHHHHAAAAAAHAAAAAHHHHAAAAAAAAAA WAAAAHHHHHAAAAAHHHHHAAAAAAAAAAAAA!”