Plaintiffs renewed the lawsuit against Tether and Bitfinex once again | Headlines | News | CoinMarketCap
07/16/2024 22:57
Another lawsuit has been filed against the Tether stablecoin issuer and the Bitfinex crypto exchange. Table of Contents The plaintiffs changed …
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Published on July 16, 2024 15:39 GMT+00:00edited on July 16, 2024 15:44 GMT+00:00
Another lawsuit has been filed against the Tether stablecoin issuer and the Bitfinex crypto exchange.
Table of Contents
The plaintiffs changed and again filed a lawsuit against Tether and Bitfinex, accusing the company of manipulating the price of Bitcoin (BTC) and other digital assets.
According to the plaintiffs, the defendants artificially inflated the price of virtual currencies by purchasing large quantities of coins at a particular time, creating a false impression of the creation of high demand for cryptocurrencies. Traders fell for it and purchased coins, increasing their rate even more.
“In reality, Tether issued billions of USDT to itself with no US dollar backing — simply creating the USDT out of thin air,” according to the complaint, which goes on to allege that …