RATE Group | Proving That Tether Manipulated Bitcoin 2017 Bull Run Won’t Be Easy
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Proving That Tether Manipulated Bitcoin 2017 Bull Run Won’t Be Easy

08 Mar Proving That Tether Manipulated Bitcoin 2017 Bull Run Won’t Be Easy

Posted at 17:19h in Cryptocurrency News by

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The iFinex–Tether market manipulation lawsuit continues. Last week, Judge Katherine Failla of the Southern District of New York selected Roche Cyrulnik Freedman as interim lead plaintiff counsel, and four civil actions were consolidated into a single class action: Leibowitz v. iFinex Inc. 

In the complaints, iFinex’s subsidiary, Bitfinex, and related stablecoin Tether (USDT) are charged with manipulating the Bitcoin market in 2017 — something the firm strenuously denied.

Combination of old and new

This isn’t shaping up as an ordinary civil action. As Failla observed in announcing her lead counsel decision on Feb. 27 via a telephone conference call, she claimed that the case combines old and new:

“The cryptocurrency law is quite novel [with] lots of issues and not a lot of resolution, but there is a lot of established law out there as well with respect to pleading requirements, with respect to traditional antitrust issues and RICO and the Commodities Exchange Act.”

The case…

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