Bitfinex

Plaintiffs Combine Their Market-Manipulation Lawsuits Against Bitfinex and Tether

Plaintiffs in three separate putative class action lawsuits against Bitfinex and Tether have moved to consolidate their cases, according to a Thursday court filing. Court filings by David Leibowitz et al, Eric Young et al, and Bryan Faubus et al, accuse the sister companies of manipulating the crypto markets. Their cases share common threads, filings …

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The Race to Lead 3 Class-Action Suits Against IFinex Over 2017 BTC Bull Run Is On

One legal team looks to lead the three ongoing suits against IFinex alleging that illegal conduct involving iFinex’s subsidiaries Tether and Bitfinex was behind Bitcoin’s (BTC) 2017 bull run. Per a Jan. 13 filing with the court of the Southern District of New York (SDNY), the counsel for Eric Young, Adam Kurtz and David Crystal …

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Win or Lose, These Crypto Whales Share Their Trades

</header> <strong>Whales are mega-rich traders who inhabit the depths of the crypto seas. Theirs is a realm of dark pools, hidden order books, OTC deals, and rich list wallet addresses. Shunning publicity in favor of pseudonymity, most whales keep their trading and personal lives separated, with only the blockchain revealing the monster sums they shuffle …

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Institutional and Retail Bitcoin Futures Demand Continues to Climb

</header> <strong>2019 saw significant bitcoin derivatives action from firms like CME Group and Bakkt. This year, demand for CME’s bitcoin futures remains strong and the firm’s options products may be available this week. Additionally, Bakkt’s physically-delivered bitcoin futures have consistently seen growth in daily volumes and open interest in 2020. Despite the growth, institutional futures …

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Bitfinex ‘Copycat’ Lawsuit Withdrawn and Then Refiled in New District

</header> <strong>Ifinex Inc, parent firm of Bitfinex, finds its ongoing legal troubles further complicated as a November lawsuit has been withdrawn by the plaintiff and refiled in a new district. The company, whose close affiliations with both the Bitfinex crypto exchange and stablecoin Tether have continually raised suspicion, now faces at least three ongoing legal …

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A Lawsuit Alleging Tether and Bitfinex Manipulated the Bitcoin Market Has Been Dropped

A class-action lawsuit alleging Tether and Bitfinex manipulated the bitcoin market has been withdrawn by the plaintiffs. A document filed Jan. 7 in the Western District of Washington shows plaintiffs Eric Young and Adam Kurtz have opted for voluntary dismissal in their case against Tether and Bitfinex’s parent firm iFinex. The case was originally filed …

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Market Update: Top Cryptos Face Strong Resistance Ahead

</header> <strong>On January 6, digital currency markets saw decent gains as the entire crypto market capitalization surpassed the $200 billion mark at 3:50 p.m. EST. Since then most cryptocurrencies have tested heavy resistance and a slew of assets are being held back. Moreover, crypto trade volumes have increased significantly and there’s been roughly $83 billion …

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Stablecoins Are Crypto’s Version of Fractional Reserve Banking

</header> <strong>Stablecoins provide much sought after stability in the volatile crypto markets. They are sometimes even said to affect the price of bitcoin in drastic fashion. Tether (<a class=”lar-automated-link” href=”https://markets.bitcoin.com/crypto/USDT” target=”_blank” rel=”noopener noreferrer”>USDT</a>) in particular continues to be widely scrutinized for this, with recent lawsuits about conflicts of interest and price manipulation being hotly contested. …

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Tron-Based Tether Has Ballooned to Over 900 Million Tokens, Almost 22% of Total Supply

</header> <strong>Since Tether’s (<a class=”lar-automated-link” href=”https://markets.bitcoin.com/crypto/USDT” target=”_blank” rel=”noopener noreferrer”>USDT</a>) migration to other networks beside the BTC-based Omni protocol, significant shifts have taken place seeing the heavily-printed stablecoin rise to prominence also via Ethereum’s ERC20 standard and Tron’s TRC20 implementation. Ethereum-based <a class=”lar-automated-link” href=”https://markets.bitcoin.com/crypto/USDT” target=”_blank” rel=”noopener noreferrer”>USDT</a> supply currently sits at over 2.2 billion tokens, while …

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Market Update: Crypto Traders Search for Bullish and Bearish Trends

</header> <strong>During the last few days, digital currency markets have been meandering sideways and prices have been less volatile. On Sunday, during the last 24 hours, the entire cryptoconomy is hovering just below the $200 billion zone and there’s roughly $71 billion in global trades. Crypto proponents are still uncertain about the future trajectory and …

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