Class Action Accuses Tether & Bitfinex of Market Manipulation
” A New York-based legal firm has filed a lawsuit against Tether and Bitfinex, accusing them of cryptocurrency market manipulation.
“Largest bubble in history”
Roche Freedman filed a class-action suit claiming that stablecoin firm Tether and its affiliate crypto exchange Bitfinex have been involved in defrauding investors, manipulating markets and concealing illicit proceeds, the firm’s founding partner Kyle Roche tweeted on Oct. 7.
In the tweet, Roche accused Tether and Bitfinex of creating the “largest bubble in history.”
Filed on Oct. 6, the complaint document states that Bitfinex and Tether primarily accomplished a ‘ sophisticated scheme” involving “part-fraud, part-pump-and-dump, and part-money laundering.’ ”