Bitfinex misled public: Execs feared $BTC drop to $1,000 as Tether hit $0.86 in October 2018

As speculation of major problems at Bitfinex and Tether ran rampant last October amidst rumors of customer withdrawal issues, Bitfinex published a notice to the market stating that there were no issues with the exchange. As customers and the public questioned the solvency of the related entities and the price of the stablecoin Tether dropped to $0.86, the company's official stance was that all was well.

However, according to the lawsuit filed today by the NY State Attorney General, Bitfinex was not being forthcoming. On October 15. 2018, Bitfinex stated that ''it is important for us to clarify that: All cryptocurrency and fiat withdrawals are and have been processing as usual without the slightest interference... All fiat withdrawals are processing and have been as usual," per the lawsuit.

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