Tether warns of need to ‘cut off salary payments’ if NY OAG is permitted to “micromanage” business

In a new filing with the New York County Supreme Court, the lawyers representing Bitfinex and Tether argue that the NY OAG is overreaching in seeking a preliminary injunction against the companies. According to the firms, "it is simply not the OAG’s purview to micromanage Tether’s business in this way."

In particular, the firms took issue with the NY OAG's restriction on related party transactions, asserting that "there is no basis to cut off the ability of tether holders who happen to be affiliated with Respondents to redeem their tether."

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