New York Supreme Court Grants Bitfinex’s Motion to Modify Injunction

Regarding the conclusion, saying, Bitfinex was optimistic in its statement:

The NYAG originally alleged that Bitfinex dropped $850 million and used capital to pay for the shortfall. Bitfinex then responded to the allegations, saying that they had been”full of inaccuracies and false assertions.”

Additionally, it requires them to turn over details about financing and line of credit while the motion enables Tether and Bitfinex to keep their enterprise. Cohen’s decision forbids Tether from distributing reserve capital to workers loaning any resources to additional celebrations or Bitfinex, or modifying documents.

Released at Fri, 17 May 2019 00:10:00 +0000

Per the statement, the court order enables Bitfinex and connected stablecoin operator Tether to keep their company. In addition, it claims that any motion to renew would be the obligation of the NYAG and that the initial injunction from the NYAG will expire in 90 days. Cohen wrote in his conclusion:

“This order is a victory in the continuing defence of our business against the New York Attorney General’s office”
“. . .the Court finds that the preliminary injunction ought to be tailored to address OAG’s legitimate law enforcement concerns while not interfering with Respondents’ legitimate business tasks.”