Tether Faces Closing Its Bank Account At Metropolitan Bank

spokesman for Metropolitan Bank said that the bank had managed Tether’s account and its subsidiaries for less than half a year before closing, according to CoinDesk report .

The New York State Prosecutor’s Office, which has accused Tether and the former Bitfinex platform, has filed new documents stating that Tether has bank accounts in Metropolitan and Signature banks in New York.

These documents were presented as evidence of the Office of the Prosecutor’s argument that it has the legal authority to investigate the company and its business because it has clients in New York City.

But a spokesman for Metropolitan Bank told CoinDesk:

The bank had accounts for Tether Holding, iFinex and DigiFinex, all of which were very weak and the accounts were closed five months after they opened

The spokesman pointed out that the bank itself is from the request to close the accounts and not the company.

The New York State Prosecutor’s Office is still investigating the issue of borrowing the Bitfinex platform for up to $ 900 million of Tether’s reserves. 

Tether and its subsidiaries have until July 22 to file a response to New York prosecutor’s office charges that the hearing will be held in court on July 29.

Please note, that is not a bit of financial advice, nor the WhaleToBe team’s view

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