Here's Why Tether's $1 Billion Deposit is Under Scrutiny: FT
Tether deposited $1B+ in Britannia Financial subsidiary and now there's an ongoing legal battle in London High Court over the Bahamas brokerage sale....
- Tether, the world's largest issuer of stablecoins, deposited over $1 billion with a subsidiary of Britannia Financial Group.
- There is an ongoing legal battle in London's High Court between Britannia Financial and Arbitral International over the sale of a Bahamas brokerage.
- Tether's deposit is under scrutiny due to its involvement in the dispute.
- The disagreement centers around additional payments specified in an agreement, with Britannia Financial claiming Tether deposited funds with its London subsidiary.
- Tether has faced regulatory scrutiny in the past, but settled investigations without admitting liability.
- This legal dispute comes at a time when London aims to establish itself as a cryptocurrency industry hub.
The sentiment of the article is neutral, providing factual information about the ongoing legal battle and Tether's involvement.