Quit whining, Bitfinex.
That’s the message of the latest court filing by the New York Attorney General’s office (NYAG) in its ongoing case against the cryptocurrency exchange and affiliated stablecoin issuer Tether.
Earlier this week, Bitfinex and Tether’s lawyers complained to New York State Supreme Court Judge Joel M. Cohen that the companies had spent $500,000 and tasked 60 lawyers simply with finding documents that the NYAG’s office has asked for. Part of the expense comes from the fact that the respondents use 10 different communications systems, they wrote.
But in a letter to the judge Thursday, the NYAG’s attorneys scoffed at the suggestion that its demands were somehow onerous.
“Whatever difficulty Respondents may claim in collecting and reviewing the communications called for in the 354 Order, the Court should take note that the 354 Order also calls for information that any responsible trading platform or venue of exchange should have at its fingertips,” wrote the lawyers, John Castiglione, Johanna Skrzypczyk and Brian Whitehurst.
The information the NYAG’s office is looking for includes tether issuance and redemptions, its current corporate, trading and client accounts, tax filings, and information about any customers who wanted to withdraw cash from Bitfinex.
The letter added:
“The 354 Order also directs production of documentation of the so-called ‘line of credit’ transaction, all of which was ostensibly generated while Respondents were under subpoena by the OAG, and therefore should be preserved and in reasonable order. There is nothing difficult, or costly, about producing that information.”
Let’s get on with it
Given the expected ease of producing the documents, Thursday’s filing asked Judge Cohen to dismiss a stay of proceedings requested by Bitfinex and Tether.