New York Judge Certifies Investor Classes in Tether, Bitfinex USDT Market Manipulation Lawsuit

A federal judge in the U.S. District Court for the Southern District of New York has approved class certification in a market manipulation lawsuit targeting Tether and Bitfinex, ChainCatcher reports. The ruling divides plaintiffs into two certified classes: spot market investors and futures traders. The complaint alleges Tether and Bitfinex used USDT issuance to manipulate cryptocurrency prices between 2017 and 2019, causing investors who bought BTC and ETH during that period to incur losses potentially reaching hundreds of billions of dollars.