The lawsuits against iFinex, which owns the two companies, seeks $1.4 trillion in damages over alleged market manipulations that led to the crypto winter of 2018.
Tether/Bitfinex study gets updated while Crypto Twitter gets angry
The report that claimed Bitcoin prices were manipulated via Tether now says a single “whale” was behind the trades; those with skin in the game react negatively
The lead academic in that (in)famous study postulating that Bitcoin prices were manipulated by Tether updated it with this added doozey: a single “whale” was behind most of it, trading large amounts of bitcoin against tether on Bitfinex, Tether’s sister company.
Tether, Bitfinex sued for $1.4 trillion (yes, with a ‘t’)
The staggering sum is for allegedly rigging the Bitcoin market in a way that would make Enron blush
The same lawyers who sued Craig Wright for $5 billion are going after Tether and Bitfinex, demanding a staggering $1.4 trillion.
Bitfinex, Tether again face market manipulation accusations
The embattled cryptocurrency exchange and stablecoin issuer jointly announced that a “meritless and mercenary lawsuit” is coming.
It seems the New York Attorney General is not the only person accusing sister companies Bitfinex and Tether of breaking the law. A paper accusing the companies of market manipulation designed to boost the price of Bitcoin will be published soon.