Representatives of the Bitfinex trading platform awaiting a court hearing, in which the lawsuit regarding the manipulation of the crypto market exchange will be considered.
Bitfinex stated that all allegations that the crypto exchange uses Tether to manipulate the cryptocurrency market are unfounded. According to the team, this lawsuit is an attempt to undermine the development and prosperity of the entire crypto community, as well as cryptocurrencies, in particular Tether and Bitfinex trading platforms. The company clearly defined its position, noting that each stablecoin USDT is supported by a reserve currency – the exchange in no case uses the asset to exercise control over market conditions, pricing, etc.
It is known that the lawsuit, which is still being prepared, is based on some new research, allegedly proving the guilt of Bitfinex. It is still unknown what kind of research is involved and who is its author.
Earlier in 2019, the New York State Prosecutor's Office indicted the stock exchange that Bitfinex used Tether funds in connection with the $ 850 million loss and hid the decision. The exchange denies everything. At the moment, the court granted the company’s petition, according to which the exchange will not transmit the requested documents to the prosecutor’s office.
