The case showed Tether and Bitfinex’s track record of misleading statements and dubious practices, but gave no credence to claims that tethers were printed to manipulate markets.

This lack of cash reserves has led to accusations that Tether is effectively “printing” stablecoins without sufficient backing, raising concerns about market stability if Tether were to face a sudden ...

The world’s biggest stablecoin issuer, Tether Holdings Ltd., is on track to close the year with more than $10 billion in net profits, Chief Executive Officer Paolo Ardoino said in an interview.