[erwan]

That's a really good point, this settlement is extremely favorable to Tether and Bitfinex. It's odd to see people persist in pinning Bitcoin's market performance on Tether issuance after reading this settlement from NYAG. Chunks of Tether collateral weren't fully liquid but my takeaway is that they operated on a genuine best-effort basis. As another comment put it, Tether definitely operated in a grey area legally - they hacked the system, but they're not the fraudsters some media, comments, or rumors made them out to be.

[PragmaticPulp]

This settlement shows they operated as if Tether was fully backed and claimed Tether was fully backed when they knew it was not.

How it that extremely favorable?

If someone sells something they don’t have under false pretenses, that’s fraud. It’s not a simple liquidity issue.