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Bitfinex Files Motion to Dismiss Allegations for Bitcoin Manipulation, Cites Lack of Proof

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. Debunking all these claims,…

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