Metropolitan Bank Says It Shut Down Tether’s Account After 5 Months
Metropolitan Commercial Bank maintained accounts for stablecoin issuer Tether and affiliated companies for less than half a year before shutting them down, a spokesperson told CoinDesk.
The New York Attorney General (NYAG)’s office, which is embroiled in a legal battle with Tether and its sister company, crypto exchange Bitfinex, filed new documentation Monday showing that Tether held accounts at Metropolitan Bank and Signature Bank, two crypto–friendly banks based in the state.
These documents were presented as evidence for the NYAG’s argument that it has the legal authority to investigate the companies because they had New York customers.