Does Bitfinex manipulate the cryptocurrencies market? - The future of Tether will be decided by a court

masterofcrypto20 (42)in #steempress • 5 years ago

The Tether-owned firm and its affiliate Bitfinex are awaiting a lawsuit to allegedly prove that the Tether token (USDT) is involved in market manipulation due to undisclosed paper.

Tether and Bitfinex are defended

On October 5, Tfin and Bitfinex also issued statements claiming they had learned of an unreleased paper that "falsely claims that Tether's emissions are responsible for manipulating the cryptocurrencies market".

Both companies claimed that the findings and conclusions presented in this undisclosed source rely on "erroneous assumptions, incomplete and sample data and erroneous methodology".

Tether and Bitfinex further wrote that they do not expect the trial to be launched at all, as all views on market manipulation are not confirmed.

Tether is fully backed up by reserves

Furthermore, the companies outlined certain concepts of their business and argued that neither Tether nor their affiliates had ever used Tether's tokens or emissions to manipulate the cryptocurrencies market or to price tokens.