Bitfinex and Tether respond to NYAG in court saying that there is no ongoing fraud, and no victims

In an official court response, Bitifinex and Tether ($USDT) parent company iFinex has issued its response against the NY Attorney General's Office investor fraud allegations. iFinex asks for the court to vacate the order, arguing the incorrect facts were asserted and the wrong legal standard imposed in the investigation. The parent company says a lack of ongoing fraud and victims makes the cases regulatory overreach particularly disruptive and harmful to both businesses activities. iFinex also said the Martin Act was wrongly applied, as Tether is not a security and Bitfinex and Tether customers are not investors and therefore fall outside the purview of the NY AG's office.