Tether Scandal Sparks Bitcoin Price Gains; Litecoin, Bitcoin Cash Up 4%-11%
By CCN.com: The bitcoin price has increased from $5,173 to $5,297 on major regulated crypto exchanges including Coinbase in the past 24 hours, by 2.3 percent. Major crypto assets such as Litecoin and Bitcoin Cash spiked by 4 to 11 percent against the U.S. dollar. The unexpected recovery of the crypto market overnight comes after the office of the New York Attorney General filed a lawsuit against iFinex, alleging Bitfinex of mismanaging the cash reserves of stablecoin Tether. On April 30, as CCN reported, the general counsel of Tether stated in an affidavit that only 74 percent of Tether is
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