Bitfinex and Tether have reached a settlement with NewYorkStateAG.

Bitfinex & Tether have reached a settlement with NewYorkStateAG. After 2.5 years and 2.5M pages of info shared, we admit to no wrongdoing and will pay US$18.5M to resolve this matter. No finding that Tether ever issued without backing or to impact crypto prices. This settlement shows our commitment to the future of the industry, and to transparency with quarterly disclosures of Tether reserves going forward.  We are pleased to put this behind us. Full statement available below. #onward [https://www.bitfinex.com/posts/608](https://www.bitfinex.com/posts/608)
Bitfinex