U.S. Judge Grants Class Action Status in Lawsuit Alleging Tether, Bitfinex Manipulated Crypto Prices via USDT Issuance

A New York federal judge granted class action status to investors suing Tether and Bitfinex over alleged cryptocurrency price manipulation between 2017 and 2019, TechFlow reported on March 7. The complaint alleges the companies used USDT issuance during that period to manipulate market prices, causing spot buyers of Bitcoin and Ethereum to suffer losses totaling tens of billions of dollars.