Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Bitfinex => Topic started by: Lenipiw on September 05, 2020, 03:35:41 PM
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IFinex – the parent company of crypto exchange Bitfinex – along with Tether has filed a motion dismissing allegations of Bitcoin market manipulation. Crypto exchange Bitfinex faces accusations of Bitcoin manipulation using the USD-backed Tether (USDT) stablecoin.
In the lawsuit, the plaintiff Bitfinex pumped billions-of-dollars worth USDT in the crypto market, without actually backing with the U.S. Dollar. Last October 2019, the plaintiff accused Bitfinex of anti-competitive and deceptive behavior in the Class Action Complaint (CAC). This complaint notes that such manipulation by Bitfinex led to crypto market valuations surging over $800 billion in late 2017.
Visit here: https://coingape.com/bitfinex-files-motion-to-dismiss-allegations-for-bitcoin-manipulation/
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Bitfinex said that there’s no concrete proof of its involvement. It notes that the CAC has spun a whole new story that “elaborates scheme of epic fraud”. However, the plaintiff fails to provide sufficient proof backing those claims, notes Bitfinex.