The companies will shut down all New York state operations and pay close to $20 million in fines.
The two companies reportedly hid approximately $850 million in losses from customers around the world and made fraudulent claims that their “stablecoins” were truly backed, in full, by the value of the U.S. dollar.
			
			
    	
	      
				    	
	      
    	
	      
    	
	      
    	
	      
			
