{"id":140833,"date":"2021-02-06T02:00:53","date_gmt":"2021-02-05T20:30:53","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=140833"},"modified":"2021-02-06T01:46:18","modified_gmt":"2021-02-05T20:16:18","slug":"bitfinex-repays-550-million-to-tether-the-remaining-loan-balance","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/bitfinex-repays-550-million-to-tether-the-remaining-loan-balance\/","title":{"rendered":"Bitfinex repays $550 million to Tether, the remaining loan balance"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Bitfinex<\/span><span style=\"font-weight: 400;\">\u00a0has now repaid a $750 million loan to Tether<\/span><span style=\"font-weight: 400;\">, which thereby cancels the $900 million credit lines between the two firms &#8211; iFinex Inc and Tether. Bitfinex had borrowed $750 million in 2018 from Tether and managed to repay $200 million in the last two years.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to an <a href=\"https:\/\/www.bitfinex.com\/posts\/600\">announcement<\/a> published on 5 February, the Bitfinex team stated:\u00a0<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">Bitfinex made this payment in fiat currency wired to Tether&#8217;s bank account. All interest due on the loan has been paid. The loan has now been repaid early and in full and the line of credit has been cancelled.<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">In 2018, the United States Department of Justice (DoJ) accused iFinex of using a $750 million credit to manipulate losses. It also alleged that Tether was printing USDt without being fully backed. <\/span><span style=\"font-weight: 400;\">Last year, regulators also <\/span><a href=\"https:\/\/iapps.courts.state.ny.us\/nyscef\/ViewDocument?docIndex=2AsYgvjJAsSdalpfkInbHA==\"><span style=\"font-weight: 400;\">asked <\/span><\/a><span style=\"font-weight: 400;\">both the companies to hand over financial documents related to the case to the New York Attorney General. The development of the case was closely followed by the crypto community, causing FUD associated with USDt. By the end of the case, however, Tether\u2019s injunctive restrictions for providing loans to Bitfinex were lifted.\u00a0<\/span><\/p>\n<p>The case resulted in Tether FUD becoming quite popular. Bitfinex <span style=\"font-weight: 400;\">CTO Paolo Ardoino addressed the same in<\/span>\u00a0his latest tweet:<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">74% of Tether FUDers be like this now <a href=\"https:\/\/t.co\/0keEDAJjMZ\">https:\/\/t.co\/0keEDAJjMZ<\/a> <a href=\"https:\/\/t.co\/8F54Xe2HoF\">pic.twitter.com\/8F54Xe2HoF<\/a><\/p>\n<p>&mdash; Paolo Ardoino \ud83e\udd16 (@paoloardoino) <a href=\"https:\/\/twitter.com\/paoloardoino\/status\/1357723749974425604?ref_src=twsrc%5Etfw\">February 5, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitfinex\u00a0has now repaid a $750 million loan to Tether, which thereby cancels the $900 million credit lines between the two firms &#8211; iFinex Inc and Tether. Bitfinex had borrowed $750 million in 2018 from Tether and managed to repay $200 million in the last two years.\u00a0 According to an announcement published on 5 February, the<a href=\"https:\/\/ambcrypto.com\/bitfinex-repays-550-million-to-tether-the-remaining-loan-balance\/\">Continue reading <span class=\"sr-only\">&#8220;Bitfinex repays $550 million to Tether, the remaining loan balance&#8221;<\/span><\/a><\/p>\n","protected":false},"author":34,"featured_media":140835,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,20],"tags":[],"class_list":["post-140833","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bitfinex repays $550 million to Tether, the remaining loan balance - AMBCrypto<\/title>\n<meta name=\"description\" content=\"In 2018, United States Department of Justice (DoJ) accused iFinex of using a $750 million credit to manipulate losses.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/bitfinex-repays-550-million-to-tether-the-remaining-loan-balance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitfinex repays $550 million to Tether, the remaining loan balance - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Bitfinex\u00a0has now repaid a $750 million loan to Tether, which thereby cancels the $900 million credit lines between the two firms - iFinex Inc and Tether.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/bitfinex-repays-550-million-to-tether-the-remaining-loan-balance\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-05T20:30:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/02\/space-89132_1280.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1274\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Alisha Roy\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/reporteralisha\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Alisha Roy\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/bitfinex-repays-550-million-to-tether-the-remaining-loan-balance\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/bitfinex-repays-550-million-to-tether-the-remaining-loan-balance\\\/\"},\"author\":{\"name\":\"Alisha Roy\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/4ac3cc6b13b31aee74a8cfe6a269f2ce\"},\"headline\":\"Bitfinex repays $550 million to Tether, the remaining loan balance\",\"datePublished\":\"2021-02-05T20:30:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/bitfinex-repays-550-million-to-tether-the-remaining-loan-balance\\\/\"},\"wordCount\":217,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/bitfinex-repays-550-million-to-tether-the-remaining-loan-balance\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2021\\\/02\\\/space-89132_1280.jpg\",\"articleSection\":[\"Altcoin\",\"News\",\"News 1\",\"Trading View\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/bitfinex-repays-550-million-to-tether-the-remaining-loan-balance\\\/#respond\"]}],\"copyrightYear\":\"2021\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/bitfinex-repays-550-million-to-tether-the-remaining-loan-balance\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/bitfinex-repays-550-million-to-tether-the-remaining-loan-balance\\\/\",\"name\":\"Bitfinex repays $550 million to Tether, the remaining loan balance - 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