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Lawsuit Filed Against Both Bitfinex and Tether For Market Manipulation
Summary: New York-based legal firm Roche Freedman has filed a class-action lawsuit against both Tether and Bitcoin accusing them of manipulating the cryptocurrency market, according to a tweet from founding partner Kyle Roche. The firm is claiming that these companies have created the largest bubble in history and that this was all part of a “sophisticated ...
New York-based legal firm Roche Freedman has filed a class-action lawsuit against both Tether and Bitcoin accusing them of manipulating the cryptocurrency market, according to a tweet from founding partner Kyle Roche.
The firm is claiming that these companies have created the largest bubble in history and that this was all part of a “sophisticated scheme” and that it is “part-fraud, part-pump-and-dump, and part-money laundering.”
Roche Freedmen alleges that Tether has lied about the backing of their coin by United States dollars. Instead a bunch of unbacked coins were released to manipulate prices.
Tether and Bitfinex both deny the claims made by Roche Freedman saying they had become aware of an unreleased paper that, “falsely positing that Tether issuances are responsible for manipulating the cryptocurrency market.” They claim these accusations are baseless and state they will be fighting the lawsuit.
By Ramsey Baker
Tags: Bitfinex,Cryptocurrency,Lawsuit,Market Manipulation,roche freedman,Tether
Link: Lawsuit Filed Against Both Bitfinex and Tether For Market Manipulation [Copy]
