(Another) Lawsuit against Bitfinex and Tether

[Captain Karim 0]

On 10/7/2019 at 3:15 PM, CryptoMaster said:

I think everybody interested in cryptocurrencies markets should keep an eye on the various lawsuits happening against Bitfinex and Tether. This is something that would affect the entire crypto industry. Tether's crash easily imply the crash for the whole industry (at least for some time). 

These lawsuits cause a problem for the entire cryptocurrency community. I hope that Bitfinex is sincere in all its dealings regarding a Tether value of $ 1, except that we will experience major problems, unexpected declines, and the lack of confidence of many investors in the cryptocurrencies.

[tienda 8776]

I dont know if this is good when you find some wales or companies controlled a such cryptocurrency! I think this is risky, because they will manipulate all the cryptocurrency market, right now Bitcoin is very hard to control it because his high price maybe!

 

 

[Shaza Ahmad 1682]

I agree with you, Tether is subject to major legal problems, and if it turns out that she made frauds, this will expose the entire cryptocurrency market to a state of turmoil, everyone should take care from dealing with Tether

[Hazirah Wahid 2]

It's not fair to sue Bitfinance and Titar, we think that we can earn through Bitfinance and Titar, so if they are closed because of this lawsuit, we will not be able to earn from it or work on coins.  We want and everyone wants this case to be taken away from Bitcoin Finance and Titas.

[magd 5231]

Thank you, I will read the article, but this lawsuit has not been filed Will these lawsuits pose any problem on the crypto market? Please answer the responses, this is important to me

[BTC Future 3946]

On 4/12/2020 at 11:30 AM, magd said:

Thank you, I will read the article, but this lawsuit has not been filed Will these lawsuits pose any problem on the crypto market? Please answer the responses, this is important to me

Since Tether has already printed more than 7Billion USDT and everyone is laughing with them, personally I wouldn't put much trust in this market. Prices are artificially inflated and everyone knows that they are trying to hold them by pumping 15 million fake USD at a daily basis. Not looking good at all.

[Rezort 846]

I think that it is important to keep an eye on such things only for those users who actually work with this exchange because for the rest of us it wouldn't have that much of an impact.

[pablomarwan 3082]

Please elaborate on the matter, because the significance is not clear. You are trying to tell us that we are in contradiction from any judicial attempt that has a hand in destroying the crypto market or leading to its collapse. It is possible to agree on your point of view on the one hand, the most things that contribute to the decline in the crypto market are counterattacks

[Rahul11 292]

On 10/7/2019 at 9:15 PM, CryptoMaster said:

I think everybody interested in cryptocurrencies markets should keep an eye on the various lawsuits happening against Bitfinex and Tether. This is something that would affect the entire crypto industry. Tether's crash easily imply the crash for the whole industry (at least for some time). 

https://www.courtlistener.com/recap/gov.uscourts.nysd.524076/gov.uscourts.nysd.524076.1.0.pdf

USDT was created by bitfinex exchanger and they said that it's backed by USD. But recently a rumor out that this news is fake. And after that we saw dump on stable coin USDT.

[Zaino34 0]

I do not know much about these issues. How can these sites handle cases against digital currencies which are illegal? I think that cannot affect digital currencies, and no one can also control Bitcoin. Are these companies that raise legal issues legitimate?

[Mohssine 1725]

I don’t know what is mean Bitfinex and Tether, but i think that cryptocurrency is strong and have a great technology blockchain , and i believe that this technology is the future of everything , also many people can’t stop using cryptocurrency.

[TimopheyKa 3900]

NDA, this is very unpleasant news, because I am sure Tether had great prospects for the future, ready investors, as well as support and bitforex, and then there was such a crash, a loss, and it involved great consequences!

[Cryptomint 433]

Yes it can be. But we are now looking the tether on the 3rd place in the market place and we know that it is better place for the USDT.

[Alex9876r 1408]

Recently, we saw the hacking of kucoin, as well as the theft on Twitter, with the breach of the accounts of the Binance platform, but the market was not affected much, but rather shook a little and returned as it was as if nothing had happened.

[Razan alikac 1899]

You are right, almost two years ago, due to the lawsuits on Tether, the market was completely disrupted and we saw the price of Bitcoin fluctuate sharply within several days, but the situation has returned to what it was before that crisis, frankly I prefer trading against the USD pair because I see it as the best option.

[SuperCrypto 7193]

The lawsuit alleges that the defendants manipulated the digital currency market by fraudulently inflating prices and causing traders billions of dollars in losses. Tether has issued billions of USDT to itself without support in USD, which has simply created USDT out of thin air. Then USDT was sold to Bitfinex.

[percare 3192]

Bitfinex and tether are in a lot of trouble but they don't seem to care at all. I don't know if there is anything to be done against them unless they both completely fail and shut down and people lose a lot of billions. This is how it usually happens as authorities act after the damage is done.

[bogdanoff 3173]

I don't know a lot about why Bitfinex is considered not very safe but I prefer yobit from this exchange. Bitfinex had some hack years ago and some are saying that it was very shady and maybe not a hack but an inside job. There is no evidence but still we should keep the coins in our wallets and have less on exchanges.

[Mosab73 333]

I do not know what this lawsuit is, but a year has passed and the price of Bitcoin has not been affected, rather it increases, albeit slowly. Also, when lawsuits are made against the defendant, the place, address, and Bitcoin are an unknown decentralized currency

[Sykkuno 2887]

Tether has helped Bitfinex with a big loan and it was repaid but still there are some lawsuits about that and the agencies in america do not see Bitfinex as a transparent exchange. Probably there are more happening that we don't know bout and we will learn years later.

[Mella 3680]

This is why I am use Yobit only because even the what we are consider top exchanges are have these kinda problems and can be shut down too or seize by governments. We are have to know that the best priorites are and for mine these are Yobit.

[yonkii 3205]

This is very bad for Bitfinex, all the trust has been lost with all the lawsuits and Tether is being used a lot but I don't think they have 15 billion of assets to cover for their Tether and make it same as one dollar, maybe this is only marginal.

[Fixfin 2569]

Bitfinex has created tether with CEO Paolo Ardoino and Brock Pierce also being a founding member but I don't know if he is still involved in any way, still they have done a lot to help Bitfinex surveve a big hack in 2016 if I'm correct and managed to grow now into 15 billion dollar  market cap.

[Masterrex 559]

Technically this Lawsuit is not good to the whole crypto industry, Because It can affect the trust and confidence in that particular marketplace, Bitfinex and Tether are quite important because they also contributed a lot in our beloved Industry so I hope it will be settled soon.

[cryptovlek 2597]

Bitfinex will not affect anything but if tether is met with any kind of problem there will be a big danger to Bitcoin. If trust in tether is lost the system will run into problems with liquidity and many exchanges will shut down with users losing funds.