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22 October 2019

How Severe Is Roche Freedman’s Lawsuit Against Tether and Bitfinex?

How Severe Is Roche Freedman’s Lawsuit Against Tether and Bitfinex?


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On the subject of whether or not these latest allegations have any real basis to them, he pointed out that claims reveal nothing new given that the Justice Department and Commodity Futures Trading Commission (CFTC) have been looking into the two firms for some time:.

However, he also pointed out that, as of now, these are only allegations and that a defense has not yet been offered. .

Between a lack of public findings by the Justice Department, CFTC and now just pure allegations by a plaintiff class action, Perry believes that no real harm should come from the filing of this lawsuit.

However, if any information that corroborates these claims becomes public in the near future, then Bitfinex and Tether will most likely experience some real reputational damage.

To shed some light on the situation, Cointelegraph reached out to Daniel Ameduri, author of “Don’t Save for Retirement: A Millennial’s Guide to Financial Freedom,” who believes that the case will most likely fizzle out because of its lack of substance and real clarity

He told Cointelegraph that he is not at all surprised that a class-action lawsuit has been brought forth against both Tether and Bitfinex — especially considering the legal pursuit these entities have been facing by the New York attorney general over the past year or so. 

Not only that, Felix also believes that it will be quite difficult for the petitioners to back their allegations of cryptocurrency market manipulation because they will need to prove intent to manipulate and benefit from the damages — which, in his estimation, is not an easy burden to overcome

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