Barely two days after disputing involvement in market manipulation, stablecoin Tether and Bitfinex exchange are in fresh trouble.

A New York-based law firm Roche Freedman LLP has charged iFinex and associated individuals and companies with collectively using cryptocurrency to “defraud investors, manipulate markets, and conceal illicit proceeds.”

The law firm alleges that BitFinex and Tether (USDT) were used in “Part Fraud, Part Pump and Dump, and Part Money Laundering.” The plaintiffs lodged the case with the United States District Court, South District of New York, stating that the two enterprises “commingled their corporate identities and customer funds while concealing their extensive cooperation in a way that enabled them to manipulate the cryptocurrency market with unprecedented effectiveness.”

The lawsuit further that Tether perpetuated a lie in its claim that “the number of [USDT] tokens in circulation will always equate to the dollars in its bank account.” The lawyers state that Tether has been involved in discharging…

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Source: https://thebitcoinnews.com/new-york-law-firm-charges-tether-and-bitfinex-with-market-manipulation/