Without Explanation, Traders Drop the Suit Against Bitfinex and Tether
Well-known traders Eric Young and Adam Kurtz, who previously accused the Bitfinex cryptocurrency platform and the company issuer of the most popular stablecoin Tether in market manipulations, decided to drop their lawsuit. It follows from the case materials that the plaintiffs abandoned their claims against iFinex Corporation, which is the parent company of the Bitfinex exchange and the issuer USDT on their own decision. Unfortunately, the parties did not explain the reasons, but they have the right to re-file a lawsuit under the current legislation of the USA. Recall that just recently, in November last year, the aforementioned traders sued iFinex Inc. and accused top managers of the company of money laundering, the active use of PAMP&DUMP schemes and market manipulation. Representatives of the defendant denied each item of the accuse and stated that the lawsuit was an almost complete copy of another one totaling $1.4 trillion, which had been filed a month earlier. To keep up with the latest news in the world of cryptocurrencies and the blockchain industry, check out updates on TheCoinShark.