Crypto exchange Bitfinex says it has repaid Tether another $100M of outstanding loan

Yilun Cheng

Cryptocurrency exchange Bitfinex claimed Friday that it had paid back another $100 million to Tether after reportedly taking out $700 million from Tether’s reserves last year. 

The loan was meant to make up for Bitfinex’s estimated $850 million financial loss after its payment processor, Crypto Capital, saw its funds seized by authorities, according to a previous announcement by the New York Attorney General’s office.

The exchange previously said that it had repaid $100 million to Tether under the loan facility in July 2019. The second payment, as Bitfinex announced on Friday, was again wired in fiat to Tether’s bank account.

“Interest on all amounts due under the facility agreement has been prepaid up to March 2020,” the announcement said.