Bitfinex and Tether have informed the crypto community of a possible lawsuit accusing the two companies of manipulation of the cryptocurrency market.
At the moment, both Tether and Bitfinex are in a legal battle with the New York Attorney General’s (NYAG) office. Notably, on September 24, Bitfinex had a major win when the New York Supreme court denied NYAG’s request to hand over the documents. If lost, the two companies would have been required to turn over the documents appertaining to the use of Tether.
Bitfinex Anticipates An ‘Opportunistic’ And ‘Meritless’ Lawsuit
Per the official statement published on October 5, Tether revealed that an anonymous party was making ‘baseless accusations’ claiming that new tether is minted to manipulate the crypto markets. The company is looking to get ahead of the accusations before the report is officially published:
“Bitfinex is aware of an unpublished and non-peer reviewed paper falsely positing that Tether issuances are responsible for manipulating the cryptocurrency market. Bitfinex vigorously disputes the findings and conclusions claimed by that source, which rely on flawed assumptions, incomplete and cherry-picked data, and faulty methodology.” Read More...