Tether & Bitfinex reach settlement with New York AG

Tether and Bitfinex have both issued the same press release confirming the settlement here: 

https://tether.to/tether-and-bitfinex-reach-settlement-with-new-york-attorney-generals-office/

and here:

https://www.bitfinex.com/posts/608

The biggest takeaway from this is that USDT has undergone the forensic scrutiny of the New York Attorney General's Office and it has not found that any USDT has ever been issued without backing. The opposite would have been quite the blow to the crypto markets with USDT being by far the cryptocurrency with the most volume. It will be interesting to see how the markets react to this news given the recent slump.