News by Altcoin Buzz: Ifeanyi
Though still involved in a legal crisis with NYAG over serving customers in New York City, the beleaguered crypto-exchange company, Bitfinex, have said it will now allow Tron-based USDT deposits and withdrawals on its platform.
This announcement was made on twitter by Bitfinex immediately after the adjournment of their ongoing legal crisis by the New York supreme court. This adjournment made it possible for Bitfinex and Tether to continue normal business activities.
Several critics have referred to the partnership between Bitfinex and Tether as suspicious. Some further stated it was just a grand cover up on the part of Bitfinex, who is using Tether to cover up the loss of about $800 million. Bitfinex, however, has displaced these assertions saying the partnership is “one of a stable fiat-pegged blockchain asset, and Tether has rapidly grew to become the most popular stablecoin product amongst traders in the digital currency space.” With emphasizes on the KYC requirements for USDT transactions for participants, Bitfinex on their official handlethat threw more light on a probably long-lasting corporation and the relationship between Bifinex and Tether.
To deposit TRC-20 Tether to Bitfinex, visit bitfinex.com/deposits/tether/ust. Do also take into full consideration that full KYC verification is required to deposit and withdraw USDT to Bitfinex.
Bitfinex case adjourned by NY Supreme Court
It is also very important to note that Bitfinex is still involved in the case which was adjourned to a later date by the New York Supreme Court judge, Joel Cohen. Cohen held off his verdict and judgment on Bitfinex graft case.