New York Court Approves Investigation Into $10 Billion Crypto Created By Pres Candidate Brock Pierce
https://www.forbes.com/sites/michaeldelcastillo/2020/07/09/ny-supreme-court-approves-investigation-into-10-billion-cryptocurrency-created-by-a-presidential-candidate/amp/?utm_campaign=forbes&utm_source=twitter&utm_medium=social&utm_term=Valerie%2F&__twitter_impression=true
A New York appeals court today unleashed the states attorney general to investigate a number of businesses behind the tether cryptocurrency. While there are no formal accusations of fraud or other wrongdoing, the opinion, from an appellate division of New Yorks Supreme Court, gives teeth to subpoenas filed by the attorney general. The respondents, including both Tether Holdings Limited and the Bitfinex cryptocurrency exchange, had unsuccessfully fought the subpoenas at the trial level, before appealing.
The news comes at an awkward time for Brock Pierce, 39, the creator of the cryptocurrency, who this week announced he was running for President of the United States. A representative of the New York State Attorney General says he cannot confirm or deny that the investigation includes Pierce.
In 2014, Pierce, who is running as an independent on a pro-technology platform, created the tether currency as a way for cryptocurrency investors to quickly enter and exit a position.
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PIERCE TIES TO STEVE BANNON