Cryptocurrency | Tether and Bitfinex are sued for market manipulation

The cryptocurrency exchange company, Bitfinex, and its affiliate Tether must face lawsuits because Tether tokens (USDT) are involved in market manipulation as a result of unpublished papers.

Then on October 5, Tether and Bitfinex issued a statement stating that they knew of a paper that had not been released "with the mistaken assumption that Tether's publication was responsible for manipulating the cryptocurrency market."

They argue that the findings claimed by the source were not made from false assumptions, incomplete data, and wrong methodologies.

Tether and Bitfinex also write that they not only expect unethical lawyers to use paper to launch a lawsuit, but also will not be surprised if the lawsuit continues. With this, the two companies will defend themselves to the death and such acts.

Bitfinex writes:
"This baseless accusation is an attempt to undermine the growth and success of the entire digital token community, where Bitfinex and Tether are an important part. This is an attack on the work and dedication of not only Bitfinex stakeholders but also thousands of our colleagues. "

The company also outlines the concepts in their business, that neither Tether nor his business partners have used Tether tokens or publishing to manipulate the crypto market.

Tether added:
"All Tether tokens are fully supported by reserves and issued according to market demand, and not to control the price of crypto assets. It is not responsible to suggest that Tether allows forbidden activities due to efficiency, liquidity, and wide-scale application in the cryptocurrency ecosystem. "

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Cryptocurrency | Tether and Bitfinex are sued for market manipulation Cryptocurrency | Tether and Bitfinex are sued for market manipulation Reviewed by sheffter on October 07, 2019 Rating: 5

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