Bitfinex and Tether Hit With Another Market Manipulation Suit

Bitfinex and its sister stablecoin issuer Tether have been handed another lawsuit alleging both firms manipulated the crypto market, following a similar such suit last month in New York, which claimed the companies created “the largest bubble in human history.” The second suit has been filed by Eric Young and Adam Kurtz at the district court in the Western District of Washington on November 22 and draws heavily from the previous lawsuit. In an extensive list of claims, Young and Kurtz say that Bitfinex and Tether “monopolized and conspired to…

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Tether Accused of Major Market Manipulation in Trillion Dollar Lawsuit

Tether and its sister company Bitfinex have been accused of creating “the largest bubble in human history” in a lawsuit filed in New York this week. Tether Artificially Inflated Prices The class-action suit filed in the Southern District of New York alleges that the two companies, and a number of affiliated entities, manipulated the crypto market out of up to $1.4 trillion USD. The suit’s central allegations center around long-standing claims that Tether essentially printed billions of dollars worth of tokens to artificially inflate prices and convince the market that there…

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