Today, in a brief statement, Bitfinex – a subsidiary of central currency stable Tether – announced that it had paid Tether an outstanding loan balance of $ 550 million. The action stops a major $ 750 million loan altogether from the $ 900 million credit line that was first disbursed in 2018 – the line of credit that was at the heart of a market-gouging lawsuit in New York and the broader attorney general in New York. York, including other lawsuits.
“Bitfinex is pleased to announce that it paid the remaining $ 550 million of the revolving credit line due to Tether in January,” wrote Stuart Högner, Bitfinex General Counsel. “Bitfinex made these payments in fiat currency converted to Tether’s bank account. All interest owed on the loan has been paid. Now the loan has been prepaid and in full, and the credit limit has been canceled.”
As long as the loan is paid off, loan claims continue. IFinex Inc. – parent company of Tether and Bitfinex – Several class action lawsuits as a result of a loan claiming that the company issued unsecured Tether, which was then used to manipulate the market.
The company is also overseen by the New York attorney general. Last month, iFinex demanded that the lawsuit be postponed until the company can hand over the documents required by the OTP – the second delay the company requested.