The outcome of the case could have a huge impact on digital asset markets, with Tether regarded as the asset that backs up much of BTC's (and other popular assets) price.
Whenever the curtain is pulled back on the operations of Tether, the representations made by its executives change dramatically.
New York Attorney General Letitia James has requested a New York court to extend the deadline for documents submission by iFinex Inc., the parent company of Bitfinex and Tether.
Bitfinex has taken legal action in effort to solidify ownership claims to the $880 million in user funds that have vanished.
IFinex Inc. has asked courts to consider loosening restrictions on how its Tether funds can be used, amid ongoing probe by the New York Attorney General.