{"id":133248,"date":"2024-07-16T22:00:29","date_gmt":"2024-07-16T19:00:29","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=133248"},"modified":"2024-07-16T13:52:46","modified_gmt":"2024-07-16T10:52:46","slug":"tether-and-bitfinex-face-market-manipulation-allegations","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/","title":{"rendered":"Tether and Bitfinex Face Market Manipulation Allegations"},"content":{"rendered":"<p>The <strong><a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.nysd.524076\/gov.uscourts.nysd.524076.114.0_1.pdf\" target=\"_blank\" rel=\"nofollow\">lawsuit<\/a><\/strong>, filed in the Southern District of New York, accuses the companies of violating the Commodities Exchange Act through practices that artificially inflated <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/\">cryptocurrency prices<\/a><\/strong>.<\/p>\n<p>Plaintiffs including Matthew Script, Benjamin Leibowitz, Jason Leibowitz, Aaron Leibowitz, and Pinchas Goldshtein claim that Tether\u2019s issuance of <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/tether\/\">USDT<\/a><\/strong>, purportedly not fully backed by USD reserves as claimed, created false impressions of market demand.<\/p>\n<p>This alleged scheme, they argue, facilitated trading on credit and loaned funds, driving up prices of cryptocurrencies like Bitcoin.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/north-korean-hackers-allegedly-linked-to-305-million-crypto-exchange-exploit\/\" title=\"North Korean Hackers Allegedly Linked to $305 Million Crypto Exchange Exploit\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/white-hat-hacker-240x170.png\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">North Korean Hackers Allegedly Linked to $305 Million Crypto Exchange Exploit<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>The amended complaint, a streamlined version of earlier filings, refines the accusations against Tether and Bitfinex. It focuses on claims of manipulating crypto commodity markets to gain unfair advantages, impacting broader investor confidence and market integrity.<\/p>\n<p>Notably, the lawsuit follows previous legal actions against the companies, indicating ongoing scrutiny of their operational practices amidst the evolving regulatory landscape governing digital assets.<\/p>\n<p>Despite Tether\u2019s denial of the allegations and assertions of meritlessness, the case has garnered attention within the cryptocurrency community and regulatory circles alike.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a significant legal development, Tether and Bitfinex are embroiled in a revised class action lawsuit alleging market manipulation and antitrust violations.<\/p>\n","protected":false},"author":3,"featured_media":31392,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[26],"tags":[],"class_list":["post-133248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocrime"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tether and Bitfinex Face Market Manipulation Allegations<\/title>\n<meta name=\"description\" content=\"In a significant legal development, Tether and Bitfinex are embroiled in a revised class action lawsuit alleging market manipulation...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tether and Bitfinex Face Market Manipulation Allegations\" \/>\n<meta property=\"og:description\" content=\"In a significant legal development, Tether and Bitfinex are embroiled in a revised class action lawsuit alleging market manipulation...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoDnes EN\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-16T19:00:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/Tether-Performs-Major-Chain-Swap-of-USDT-from-Tron-to-Ethereum-1200x900-1.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Alexander Stefanov\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Alexander Stefanov\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/\"},\"author\":{\"name\":\"Alexander Stefanov\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/121029bf2ce7d5bbdab7f447d5aeebb5\"},\"headline\":\"Tether and Bitfinex Face Market Manipulation Allegations\",\"datePublished\":\"2024-07-16T19:00:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/\"},\"wordCount\":174,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/#organization\"},\"image\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/Tether-Performs-Major-Chain-Swap-of-USDT-from-Tron-to-Ethereum-1200x900-1.jpeg\",\"articleSection\":[\"Crypto Crime\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/#respond\"]}],\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/cryptodnes.bg\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/\",\"url\":\"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/\",\"name\":\"Tether and Bitfinex Face Market Manipulation Allegations\",\"isPartOf\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/Tether-Performs-Major-Chain-Swap-of-USDT-from-Tron-to-Ethereum-1200x900-1.jpeg\",\"datePublished\":\"2024-07-16T19:00:29+00:00\",\"description\":\"In a significant legal development, Tether and Bitfinex are embroiled in a revised class action lawsuit alleging market manipulation...\",\"breadcrumb\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/#primaryimage\",\"url\":\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/Tether-Performs-Major-Chain-Swap-of-USDT-from-Tron-to-Ethereum-1200x900-1.jpeg\",\"contentUrl\":\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/Tether-Performs-Major-Chain-Swap-of-USDT-from-Tron-to-Ethereum-1200x900-1.jpeg\",\"width\":1200,\"height\":900},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cryptodnes.bg\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Tether and Bitfinex Face Market Manipulation Allegations\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/#website\",\"url\":\"https:\/\/cryptodnes.bg\/en\/\",\"name\":\"CryptoDnes EN\",\"description\":\"Crypto News, Bitcoin Analysis and More\",\"publisher\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/cryptodnes.bg\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/#organization\",\"name\":\"CryptoDnes EN\",\"url\":\"https:\/\/cryptodnes.bg\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2025\/04\/logo.svg\",\"contentUrl\":\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2025\/04\/logo.svg\",\"caption\":\"CryptoDnes EN\"},\"image\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/121029bf2ce7d5bbdab7f447d5aeebb5\",\"name\":\"Alexander Stefanov\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/6dd8585c9881c74e639b0a3d0a889929?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/6dd8585c9881c74e639b0a3d0a889929?s=96&d=mm&r=g\",\"caption\":\"Alexander Stefanov\"},\"url\":\"https:\/\/cryptodnes.bg\/en\/author\/alex100oo\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Tether and Bitfinex Face Market Manipulation Allegations","description":"In a significant legal development, Tether and Bitfinex are embroiled in a revised class action lawsuit alleging market manipulation...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/","og_locale":"en_US","og_type":"article","og_title":"Tether and Bitfinex Face Market Manipulation Allegations","og_description":"In a significant legal development, Tether and Bitfinex are embroiled in a revised class action lawsuit alleging market manipulation...","og_url":"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/","og_site_name":"CryptoDnes EN","article_published_time":"2024-07-16T19:00:29+00:00","og_image":[{"width":1200,"height":900,"url":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/Tether-Performs-Major-Chain-Swap-of-USDT-from-Tron-to-Ethereum-1200x900-1.jpeg","type":"image\/jpeg"}],"author":"Alexander Stefanov","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Alexander Stefanov","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/#article","isPartOf":{"@id":"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/"},"author":{"name":"Alexander Stefanov","@id":"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/121029bf2ce7d5bbdab7f447d5aeebb5"},"headline":"Tether and Bitfinex Face Market Manipulation Allegations","datePublished":"2024-07-16T19:00:29+00:00","mainEntityOfPage":{"@id":"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/"},"wordCount":174,"commentCount":0,"publisher":{"@id":"https:\/\/cryptodnes.bg\/en\/#organization"},"image":{"@id":"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/#primaryimage"},"thumbnailUrl":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/Tether-Performs-Major-Chain-Swap-of-USDT-from-Tron-to-Ethereum-1200x900-1.jpeg","articleSection":["Crypto Crime"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/#respond"]}],"copyrightYear":"2024","copyrightHolder":{"@id":"https:\/\/cryptodnes.bg\/#organization"}},{"@type":"WebPage","@id":"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/","url":"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/","name":"Tether and Bitfinex Face Market Manipulation Allegations","isPartOf":{"@id":"https:\/\/cryptodnes.bg\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/#primaryimage"},"image":{"@id":"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/#primaryimage"},"thumbnailUrl":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/Tether-Performs-Major-Chain-Swap-of-USDT-from-Tron-to-Ethereum-1200x900-1.jpeg","datePublished":"2024-07-16T19:00:29+00:00","description":"In a significant legal development, Tether and Bitfinex are embroiled in a revised class action lawsuit alleging market manipulation...","breadcrumb":{"@id":"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/#primaryimage","url":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/Tether-Performs-Major-Chain-Swap-of-USDT-from-Tron-to-Ethereum-1200x900-1.jpeg","contentUrl":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/Tether-Performs-Major-Chain-Swap-of-USDT-from-Tron-to-Ethereum-1200x900-1.jpeg","width":1200,"height":900},{"@type":"BreadcrumbList","@id":"https:\/\/cryptodnes.bg\/en\/tether-and-bitfinex-face-market-manipulation-allegations\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cryptodnes.bg\/en\/"},{"@type":"ListItem","position":2,"name":"Tether and Bitfinex Face Market Manipulation Allegations"}]},{"@type":"WebSite","@id":"https:\/\/cryptodnes.bg\/en\/#website","url":"https:\/\/cryptodnes.bg\/en\/","name":"CryptoDnes EN","description":"Crypto News, Bitcoin Analysis and More","publisher":{"@id":"https:\/\/cryptodnes.bg\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/cryptodnes.bg\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/cryptodnes.bg\/en\/#organization","name":"CryptoDnes EN","url":"https:\/\/cryptodnes.bg\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptodnes.bg\/en\/#\/schema\/logo\/image\/","url":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2025\/04\/logo.svg","contentUrl":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2025\/04\/logo.svg","caption":"CryptoDnes EN"},"image":{"@id":"https:\/\/cryptodnes.bg\/en\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/121029bf2ce7d5bbdab7f447d5aeebb5","name":"Alexander Stefanov","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/6dd8585c9881c74e639b0a3d0a889929?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6dd8585c9881c74e639b0a3d0a889929?s=96&d=mm&r=g","caption":"Alexander Stefanov"},"url":"https:\/\/cryptodnes.bg\/en\/author\/alex100oo\/"}]}},"modified_by":"Deyan Angelov","_links":{"self":[{"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/posts\/133248","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/comments?post=133248"}],"version-history":[{"count":1,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/posts\/133248\/revisions"}],"predecessor-version":[{"id":133250,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/posts\/133248\/revisions\/133250"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/media\/31392"}],"wp:attachment":[{"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/media?parent=133248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/categories?post=133248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/tags?post=133248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}