Bitfinex Faces Trial Over New York Claim That it Hid Losses
- New York judge ruled that attorney general’s suit can proceed
- The litigation has impacted related companies’ use of funds
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Crypto exchange Bitfinex faces a trial over New York Attorney General Letitia James’s claim that it hid the loss of comingled client and corporate funds.
New York state Justice Joel M. Cohen denied Bitfinex’s request to dismiss the suit, and ruled that a temporary hold on the attorney general’s investigation should be dissolved. The companies behind Bitfinex in May won a partial block on demands for information from the attorney general while they sought to dismiss the lawsuit.