COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Britannia Financial Could Face Lawsuit Over Alleged Undeclared Income Related to Tether
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Tether (USDT) > Britannia Financial Could Face Lawsuit Over Alleged Undeclared Income Related to Tether
Tether (USDT)

Britannia Financial Could Face Lawsuit Over Alleged Undeclared Income Related to Tether

In Brief

  • Britannia Financial, a banking partner of Tether, may face a legal process for allegedly not declaring income related to Tether. According to a report published by the Financial Times on November 21, Arbitral International, a company based in the British Virgin Islands, has filed a lawsuit against Britannia due to a $1 billion transfer from […]
COINTURK NEWS
COINTURK NEWS 1 year ago
Share
SHARE

Britannia Financial, a banking partner of Tether, may face a legal process for allegedly not declaring income related to Tether. According to a report published by the Financial Times on November 21, Arbitral International, a company based in the British Virgin Islands, has filed a lawsuit against Britannia due to a $1 billion transfer from Tether, as indicated by court documents filed in London’s High Court of Justice in 2023.

Contents
Notable Bank Partnerships of TetherUSDT Aims for a Value of 90 Billion Dollars

Notable Bank Partnerships of Tether

The lawsuit is related to Britannia’s acquisition of an intermediary company based in the Bahamas known as Arbitral Securities. Britannia announced the acquisition process in October 2021, defining the brokerage firm as a subsidiary of Britannia Securities.

According to the newly published report, Britannia and Arbitral reached an agreement regarding an additional payment based on the income-generating asset value owned by Arbitral Securities one year after the sale. The agreement was stated to include customers tied to Arbitral or related parties.

Referring to court files, the report revealed that Tether opened an account at a subsidiary of Britannia Financial in November 2021. The news came a few months after Bloomberg described Tether as a private bank based in the Bahamas on the Britannia Bank and Trust platform for conducting dollar transfers. Paolo Ardoino, Tether’s Chief Technology Officer and new CEO, had previously stated that the stablecoin company had strong relationships with more than seven banks.

USDT Aims for a Value of 90 Billion Dollars

According to data from CoinGecko, Tether’s stablecoin is steadily gaining momentum in the cryptocurrency market and heading towards a market value of 90 billion dollars. On November 20, USDT reached a new peak of 88 billion dollars with a 33% increase since the beginning of 2023.

According to Tether, USDT added over 20 billion dollars to its market value in 2023 due to two main factors, including ongoing market excitement, including the possible approval of a spot Bitcoin exchange-traded fund. The company states that Tether’s record-breaking growth continues to attract attention, particularly in developing markets like Brazil, due to increasing demand.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Tether Faces Criticism Over Financial Practices and Stability

Tether AI Pioneers Open Source Blockchain-Based Payment Integration

Tether Achieves Record Financial Gains with Strategic Investments

Tether Dominates Q1 2025 with Record Profits and Treasury Investments

Tether Ventures into Agriculture by Acquiring Major Stake in Adecoagro

COINTURK NEWS 21 November, 2023 - 11:18 pm 21 November, 2023 - 11:18 pm
Share This Article
Facebook Twitter
Share
Previous Article Aragon DAO Dissolves Board and Distributes Crypto Assets to Token Holders
Next Article How to Buy Matic Network Coin?
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Bitcoin Surges with Institutional Interest and Positive Economic Signals
Bitcoin (BTC)
See BNB Surge as Crypto Factors Align!
Altcoin News
Bitcoin Surges Past $105,000 Triggering Positive Waves in Crypto Market
Ripple (XRP)
Bitcoin Surges as the Dollar Index Weakens
Bitcoin (BTC)
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?