Team Tether trying to dismiss the lawsuit on fraud

The company behind the release of the main stablon industry Tether USDT, contacted U.S. District court in the southern district of new York. Representatives of the Tether has advised of the intention to file a motion to dismiss “improper” lawsuits in their favor. Recall that in a class action filed last month, claiming damages in the amount of 1.4 trillion dollars. Tether is accused of issuing digital currency worth billions of dollars without providing them with Fiat currency. In addition, the company charges for allegedly fraudulent manipulation of the exchange rate of Bitcoin.

Tether strikes back

According to representatives of the Issuer USDT, the plaintiffs do not “adequate legal framework” to do so scandalous statements. The firm said that the lawsuit was based on “erroneous and unpublished” academic article 2018, written by scientists of the University of Texas John Griffin and Amin Samson. Although the document was later modified and released earlier this month, Tether argued that the final document “returns to the main justification of the false statements of the plaintiffs”.

See also: How to use the USDT? A detailed analysis of stablon Tether.

Statement of the Issuer also covers the alleged false accusation that in 2017, the Tether had a hand in the manipulation in the trading of Bitcoin. In the period from March to December 2017, the market capitalization of Bitcoin was almost semsot times higher amounts of emissions USDT for the same period, so experts Tether I don’t think this is possible. The company’s management believes that any scholar of the ecosystem of cryptocurrencies should know how ridiculous the complaint of the plaintiffs. With such accusations, the case against the Tether does not deserve to continue.

The plaintiffs continue to act in such a way as to undermine the contribution of thousands of people in the digital economy. Tether will vigorously contest the claims of the plaintiffs, tirelessly to protect themselves, their customers and stakeholders, as well as cryptologist.

The attorney General of new York is investigating in relation to the company Tether, which, together with its subsidiary exchange iFinex is accused of concealing financial gaps in the amount of 850 million US dollars after the client and corporate funds were confiscated by law enforcement.

Source: Bitcoinist

This lawsuit revealed unexpected details the history of the company: presumably from October 2018 tokens Tether was supported by only 74 percent. In corporate correspondence within the company found emails where employees were concerned that manipulation of USDT “will greatly affect the price of Bitcoin”.

Now representatives of the Tether want to refute all these statements. The last word on the credibility of the company's arguments will the court. So what are waiting for developments.

By the way, is now doing something similar Telegram. Recall, the company requires the court to reject the claim of the Commission on securities and stock exchanges of the USA. We are talking about banning the release of the token Gram, which run TON was postponed until 30 April 2020. Representatives Telegram also don’t like the feature Gram as “securities” — it gives an opportunity for the Commission to interfere with the start of the project. For securities require special registration, which the representatives of Telegram no.

Pavel Durov. Source: 2Биткоина

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