Tether and Bitfinex Reject Updated Price Manipulation Lawsuit

So here's the deal: - Tether and Bitfinex are calling the new lawsuit against them totally unfounded. - This lawsuit claims that Bitfinex and Poloniex were involved in manipulating Bitcoin prices by creating USDT. The class-action suit suggests that Bitfinex was behind what they call "the largest bubble in human history" since Tether allegedly printed billions of USDT that Bitfinex then used for big Bitcoin buys, which contributed to the price swings we saw in 2017. Now the lawsuit has changed to also include Bittrex and Poloniex as defendants. In the updated complaint, it says this: While the platforms are pushing back, saying, "They jumped to the conclusion that Tether demand equals market manipulation." Bitfinex is also arguing that the plaintiffs are just grasping at straws in their attempt to put the blame on the exchange.

They could well be right. Good luck proving it. It does seem a little unusual there've been price explosions that precisely align with Bitfinex's woes emerging. Ultimately though they can only provide a spark, it's down to the rest of the world to fool themselves into joining in and at that moment it becomes a legitimate bubble. The feeling in my willy is that Bitfinex have brazenly abused their position in the past but have gotten away with it unscathed and the truth will never emerge. But one thing I don't buy is the Tether as pure thin air thing. I'm sure there've been phases where it's had holes, but a peg doesn't last that long without some tangible backing.

When will this kind of lawsuits end? I mean its always about disgruntled investors pointing fingers on to someone for their losses and I don't think they have the right to blame it on someone without substantial evidence. Right away if the court sided with the plaintiffs they are admitting partially that Bitcoin is a "bubble" with their claims as much as I hate USDT and Bitfinex I don't want this decision to be made in favor of the complainants since it will just damage the reputation of Bitcoin and maybe some other cryptocurrencies that the complainants have invest in. But if they have substantial proof that Bitfinex and Tether really just created USDT to pump the market during December 2017 I don't think this is a winnable case for them.