New York supreme court denies Bitfinex’s lack-of-jurisdiction claim

A ruling earlier today from New York Supreme Court Judge Joel M. Cohen will give Bitfinex and Tether another 90 days to turn over documents amid an investigation by the New York Attorney General's office (NYAG). In April the NYAG filed an injunction claiming that Bitfinex was attempting to cover up the loss of $850 million due to a third party and that it had negotiated a line of credit allowing it to borrow from Tether's reserves. In reaction Bitfinex's lawyers argued that the NYAG lacked jurisdiction to pursue the claims but today's ruling found that "based on the evidence and applicable law that it (the NYAG) has jurisdiction – and a clear statutory mandate – to adjudicate this matter."