June 22, 2024

Bitfinex repays another $ 100 million loan of $ 700 million from Tether

Bitcoin exchange Bitfinex announced that it transferred another $100 million to Tether to repay the previously borrowed$ 700 million loan

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We are talking about repaying the main debt, interest accrued according to the loan 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.

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

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

Bitfinex tries to return frozen through courtCrypto Capital's assets. Meanwhile, the founder of the payment company was charged with bank fraud, and its president with money laundering and participation in a drug cartel.

Recall that in May last year, Bitfinex raised $ 1 billion during the private placement of LEO tokens.