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Bitfinex and Tether have rejected allegations made in an amended consolidated class action lawsuit filed in the Southern District of New York. The lawsuit was filed on Wednesday and alleged that Bitfinex has “executed a sophisticated scheme to fraudulently inflate the price of cryptocurrencies”. It also claimed that “billions” of Tether tokens were issued despite not being backed by physical US Dollars. Stuart Hoegner, General Counsel for Bitfinex, said: “Even after taking three full months to amend their complaint, the plaintiffs’ allegations remain untethered to either the facts or the law. They conflate perceived correlation with causation in an effort to prop up theories that are untrue and unsupportable.” In a press release shared with Coin Rivet, Bitfinex claim that ...
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