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Bitfinex expects to file business documents with the New York Attorney General’s Office (NYAG) within weeks

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The $850 million funding case is about to come to light?

Rhythm BlockBeats news, on January 20, the encrypted trading platform Bitfinex is expected to complete the submission of documents to the Office of the New York Attorney General (NYAG) in the next few weeks, which will allow the New York State Attorney General The investigation into the platform's alleged $850 million Tether cover-up is one step closer to conclusion.

Defendant Bitfinex’s attorney, Charles Michael, said in court on Tuesday that the parent company iFinex has represented the NYAG "A lot of materials have been prepared." The next update will be in 30 days, he said.

The documents may shed light on the tight-lipped iFinex finances. As previously reported by Rhythm, New York prosecutors accused Bitfinex of losing $850 million in customer and company funds in April 2019, and then used its affiliated stablecoin USDT to make up for the losses. Subsequently, Bitfinex has been trying to dismiss the allegations, arguing that the company does not belong to the jurisdiction of New York State. (Rhythmic Note: Bitfinex and Tether, the issuing company of the stable currency USDT, are sister companies, and their parent companies are both iFinex).