Investors for unknown reason abandoned claims against Bitfinex and Tether



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Investors for unknown reason abandoned claims against Bitfinex and Tether

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Traders Eric Young and Edam Kurtz, accusing the Bitfinex cryptocurrency exchange and the Tether stablecoin issuer of manipulating the Bitcoin market, withdrew their lawsuit.

From the court documents, it follows that the plaintiffs voluntarily refused claims to iFinex – the parent company of Bitfinex and Tether. The reason for this decision is not indicated. Under US law, investors can file a lawsuit again.

At the end of November 2019, Young and Kurtz accused iFinex Inc., its subsidiaries and top managers, of money laundering, Pump & Dump schemes, deliberate fraud of investors and market manipulations using unsecured Tether tokens to monopolize the bitcoin market.

Bitfinex initially rejected these allegations. According to the management of the exchange, this lawsuit “copied the provisions and, accordingly, multiple flaws” of another similar lawsuit for $ 1.4 trillion, filed in a court of the State of New York on October 6.

Investors for unknown reason abandoned claims against Bitfinex and Tether



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