The US Commodity Futures Trading Commission (CFTC) has refused a Freedom of Information Act (FOIA) for a release of the subpoenas allegedly issued last year to cryptocurrency exchange Bitfinex and token issuer Tether, Coindesk reports Wednesday, June 6. Bitfinex and Tether share a CEO, Jan Ludovicus van der Velde, and the two entities had created controversy last fall over alleged price manipulation of Tether. The two companies reportedly received subpoenas from US regulators on Dec 6, 2017, with the impetus for the subpoenas still unclear. Tether has also since been under some scrutiny from the crypto community after they dissolved …

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, you should conduct your own research when making a decision. The inner workings of Tether have been under constant scrutiny and they’re in the spotlight again after issuing 300 mln new Tether tokens last week. To understand why Tether has been the subject of controversy for the past six months, one should remember how this cryptocurrency works. According to Tether, USDT tokens are “backed’ by US Dollars in a 1:1 ratio. In the last six months, Tether have been constantly accused of not having …