Wake Up Call: Top Crypto Coin Exchange Hires Steptoe Over ‘False Claims’

• The world’s biggest bitcoin exchange, Bitfinex, hired law firm Steptoe & Johnson LLP to handle what it called “false claims,” among other things related to a Turkish man’s complaint that he couldn’t swap $1 million of the cryptocurrency “tether” for cash. The convoluted case highlights questions over a vow by Tether, the company behind the digital token “tether,” that the coins are backed by $814 million in cash. There are also questions about Bitfinex’s connection to tether. ( Bloomberg ) That case comes as online sites that exchange bitcoins and other digital assets look certain to face mounting legal and ...