Tether Limited intends to issue CNHT stablecoin, which will be tied to the value of Chinese national currency.
The intention of Tether became known from Zhao Dong, a shareholder of the Bitfinex crypto exchange. Dong has already announced that his digital bank RenrenBit will invest in a new crypto project. It is also known that Tether works closely with the Bitfinex crypto platform – according to the data, the same team is engaged in the development of certain projects.
By the way, recently Bitfinex and Tether fell into the same scandalous story. In April of this year, the New York Attorney General's Office (NYAG) filed a complaint against Bitfinex, iFinex, and Tether exchanges claiming that Bitfinex representatives concealed the fact that they had lost a large amount of funds ($ 850 million) and covered the shortfall by borrowing funds from Tether reserves. The prosecutor's office claims that Bitfinex served residents of New York State and violated Martin's law, although the exchange denies this and claims that customer service ceased in 2017. In addition, Bitfinex claimed that the state has no jurisdiction in this matter, but a court decision of August 19 said that the investigation will continue.
