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[aryan4]

A compromise was reached in the Bitfinex and Tether case, a closely monitored case with significant ramifications for the cryptocurrency industry. The NYAG office officially ended the investigation that started in April 2019, announcing the deal on Tuesday. Under the terms of the deal, Bitfinex and Tether will admit that there is nothing wrong, but will pay $ 18.5 million and provide quarterly reports explaining Tether's reserves for two years.
What do you think of this important deal?

 

[Niftyicon]

It was a much needed deal to both parties so that the lingering issues could be put to rest and business continue as usual. It has been two years already.

 

[Yugocean]

Which Tether? There are different tether -
ERE-20,
TRC-20
Omni
Three different blockchains for tether.
So revenue is also different )as per blockchain).
Now even Binance have its own USDT.

 

[Rollerkid]

A compromise was reached in the Bitfinex and Tether case, a closely monitored case with significant ramifications for the cryptocurrency industry. The NYAG office officially ended the investigation that started in April 2019, announcing the deal on Tuesday. Under the terms of the deal, Bitfinex and Tether will admit that there is nothing wrong, but will pay $ 18.5 million and provide quarterly reports explaining Tether's reserves for two years.
What do you think of this important deal?

Too bad to still hear both tether company and bittrex would be paying that sum of money. I know it will cost the two parties much to rise that sum of money and settle their debts.

 

[aryan4]

This settlement or deal is very important to both company. Even though it has lingered for a while. I hope this last and a better service is rendered to their customers hence forth. Thanks for sharing anyway ?

In my opinion, it is an important development that this problem, which is progressing on a legal issue, is resolved in some way. Now at least there is no legal risk.

 

[Wisdom01]

Too bad to still hear both tether company and bittrex would be paying that sum of money. I know it will cost the two parties much to rise that sum of money and settle their debts.

With our large the exchange site is i think they should be able to pay the debt , only that their revenue would be really affected at a higher level i think

 

[Rollerkid]

With our large the exchange site is i think they should be able to pay the debt , only that their revenue would be really affected at a higher level i think

Considering the sides of the two companies it would not be too difficult for them to pay the debts, but then they will still have to liquidate some of their assets to clear the debt.

 

[Wisdom01]

Considering the sides of the two companies it would not be too difficult for them to pay the debts, but then they will still have to liquidate some of their assets to clear the debt.

I even think the debt wont last long since they already have some backup funds in case of any emergency and others i think , well things would be sorted

 

[SCAMEXPOSER]

Which Tether? There are different tether -
ERE-20,
TRC-20
Omni
Three different blockchains for tether.
So revenue is also different )as per blockchain).
Now even Binance have its own USDT.

These three version of tether are available on Binance , I don't know if the three is owned by the same company but operating on different protocol.

 

[achawaskey]

It is good it was reached out of court, at least both parties will benefit and business will continue as usual. Its a win win case.

 

[BullyMaguire]

Which Tether? There are different tether -
ERE-20,
TRC-20
Omni
Three different blockchains for tether.
So revenue is also different )as per blockchain).
Now even Binance have its own USDT.

Confused about this.. there a lot of different kind of tether which one is it.. since there's a lot and I haven't seen any problems with USDT ERC20

 

[Rollerkid]

I even think the debt wont last long since they already have some backup funds in case of any emergency and others i think , well things would be sorted

Yeah, l quite sure by now they would have settled it. That amount of money and considerating the sizes of the two companies will not be difficult to pay the amount.

 

[Yugocean]

Confused about this.. there a lot of different kind of tether which one is it.. since there's a lot and I haven't seen any problems with USDT ERC20

ERC20 runs on Ethereum blockchain, and just like ETH, it charges good gas fees, so better avoid that one; other blockchain Tether are much better due to low fees charged.

 

[Josemendez]

A compromise was reached in the Bitfinex and Tether case, a closely monitored case with significant ramifications for the cryptocurrency industry. The NYAG office officially ended the investigation that started in April 2019, announcing the deal on Tuesday. Under the terms of the deal, Bitfinex and Tether will admit that there is nothing wrong, but will pay $ 18.5 million and provide quarterly reports explaining Tether's reserves for two years.
What do you think of this important deal?

Well , there is nothing more peaceful that a resolution that is fitting for both parties. This will help them to relate well afterwards .

 

[Wisdom01]

Yeah, l quite sure by now they would have settled it. That amount of money and considerating the sizes of the two companies will not be difficult to pay the amount.

Yeah but i havent even seen aby penalty attached incase they aren't going to pay the money on time ,so things would be sorted out

 

[BullyMaguire]

ERC20 runs on Ethereum blockchain, and just like ETH, it charges good gas fees, so better avoid that one; other blockchain Tether are much better due to low fees charged.

Can you suggest which one should i use? Fairly new to trading so i have no idea. I have used trc20 which has smaller fees but needs trx to use

 

[Rollerkid]

Yeah but i havent even seen aby penalty attached incase they aren't going to pay the money on time ,so things would be sorted out

I did not also see any penalty like you said but l don't think both of them would delay the settlement of the debt since it isn't any sum of money they cannot afford.

 

[Niftyicon]

I did not also see any penalty like you said but l don't think both of them would delay the settlement of the debt since it isn't any sum of money they cannot afford.

The amount may not really be the most important. The good thing is that both sides have reached a compromise that would end all the tussles.

 

[Yugocean]

Can you suggest which one should i use? Fairly new to trading so i have no idea. I have used trc20 which has smaller fees but needs trx to use

Check this thread in Support section - here our friend @mdtp422 has made good information there, he will guide when there is we discussing like gas fees.

 

[Rollerkid]

The amount may not really be the most important. The good thing is that both sides have reached a compromise that would end all the tussles.

Yeah, that is the most important issue like you just said. Since the two parties would end up any issue relating to that, it's surely the thing we should concentrate on.