People need to read more and fact check their news before running with click bait news. The New York OAG office never stated that Tether printed 851 million USD out of thin air as reported by numerous news outlet. In fact, I was shock the report actually shine some positive light on the whole Bitfinex and Tether relationship. I urge folks to actually read the report rather than running with the click bait summary provided by news outlet. Here is the entire report from OAG office:
https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=vIexA1b0spKOnK_PLUS_ZUGTJ3A==
I want folks to read, please read. Its a 23 page document giving a timeline of the events taking place between Bitfinex and Tether. The report is quite simple and the language is quite easy to understand, not your typical legal tongue twister but a detailed report highlighting concerns of Conflict of interest. What probably should be of interest to everyone, is the much talk about funds 851 million is actually tied in legal jungle of Portugal, Poland the United States.
I don't want to add further thoughts, I want you to read the report and share your thoughts, the only concern I really have with the report, it mention stablecoins as having "characteristics of securities and commodities", given the OAG used the word 'securities', then this can open a floodgate of unwanted claims, not just for Tether, but other stablecoins claiming USD backing.