Bitfinex repaid another $100 million of the loan to Tether

by in Cryptocurrency News

Bitfinex's loan

Bitfinex Bitcoin exchange reported that it gave another $100 million to Tether to repay a previously taken credit of $700 million.

It is a question of repayment of the chief debt, interest increased according to the credit agreement is paid separately, Bitfinex emphasized.

It was assumed that the affiliate’s funds were needed by the exchange for a refund of $ 850 million, frozen in December 2018 by regulators at the payment provider Crypto Capital Corp.

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In April 2019, the New York State Attorney's Office accused iFinex Inc, the parent company of Bitfinex and Tether, of violating the law by hiding investors from using the USDT stablecoin reserves to cover exchange damage. The trial is ongoing.

The first $100M exchange was returned by Tether last July.

The exchange is trying through a court to return assets frozen in Crypto Capital. Meanwhile, the founder of the payment company was charged with bank fraud and its president with money laundering and participation in a drug cartel.