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New York Federal Judge Approves Class Action Status for Investors in Tether and Bitfinex Market Manipulation Case
Svmuu News According to court documents from the United States District Court for the Southern District of New York, a federal judge in New York has approved the plaintiffs' motion for class certification in the market manipulation lawsuit against Tether and Bitfinex. The case has been divided into two plaintiff groups: spot investors and futures traders. The lawsuit alleges that Tether and Bitfinex manipulated cryptocurrency market prices by issuing USDT between 2017 and 2019, causing investors who purchased BTC and ETH to suffer losses amounting to hundreds of billions of dollars. (Law360)
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