Crypto News 

Plaintiff Against Bitfinex Stands Ground, Despite Court’s Request

“The plaintiff who dragged crypto exchange Bitfinex to court for Bitcoin price manipulation allegations denied amending their complaints despite a request from the court” writes Arnab Shome for financemagnates.com. In the recent court filing, the plaintiff noted: “First, the study still concludes that USDT was being used to manipulate bitcoin prices. Source: financemagnates.com

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Crypto News 

Plaintiffs in Tether-Bitcoin Price Manipulation Case Will Not Drop Complaint

“The plaintiffs in a class-action lawsuit accusing the Tether (USDT)-affiliated crypto exchange Bitfinex of Bitcoin (BTC) price manipulation have declined to amend their complaint” writes Ana Alexandre for cointelegraph.com. The researchers said: “This suggests that even if Tether were indeed manipulating the market, its ability to do so actually is strongest when the Bitcoin price falls. Source: cointelegraph.com

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Crypto News 

‘Mercenary and Baseless’ — Bitfinex Responds to New Lawsuit

“Should this succeed, Bitfinex and Tether will fully evaluate their legal options against the plaintiffs, the announcement reveals” writes Marie Huillet for cointelegraph.com. The exchange compares the purportedly “copycat lawsuit” to one filed earlier this fall, at the District Court for the Southern District of New York. Crypto Capital had, in the exchange’s own words, “processed certain funds for and on behalf of Bitfinex for several years.” Bitfinex has argued it is itself a victim of the fraud.Bitfinex’s post uses sharp language to cast aspersions on the motivation and legitimacy…

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Crypto News 

Second Lawsuit Drags Bitfinex, Tether to Court for BTC Price Manipulation

“Crypto exchange Bitfinex on Sunday quashed all claims made against it in another class-action lawsuit filed last week” writes Arnab Shome for financemagnates.com. Per Bitfinex, this is a “copycat” brought in by mercenary lawyers against the exchange and its sister company Tether for manipulating Bitcoin prices using the stablecoin.Research published earlier by two academics revealed that the Tether was used to manipulate Bitcoin prices which led to its rally in 2017. Source: financemagnates.com

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Crypto Futures News 

Bitfinex to Launch Crypto Options, a Gold-Backed Stablecoin

“Crypto exchange Bitfinex is planning to expand its product offerings by introducing crypto options and gold-backed digital currency among others” writes Arnab Shome for financemagnates.com. Bakkt, which launched physically-delivered Bitcoin futures last September, saw a significant surge recently despite a dim launch.CME Group in the US is also set to introduce Bitcoin options next year. However, in Asia, the Hong Kong regulator is skeptical of the crypto futures and recently issued a warning against such contracts.The company is aiming to bring the crypto options as early as the first quarter…

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Crypto News 

Bitfinex Looks to Launch Options Trading As Soon As Q1 2020

“According to an executive, cryptocurrency exchange Bitfinex is planning to launch options and a gold-backed stablecoin, among a host of new products” writes Joeri Cant for cointelegraph.com. In a Nov. 12 appearance on the Scoop, Paolo Ardoino, CTO of Bitfinex and Tether, told the Block that Bitfinex is considering launching options trading, while also taking a closer look at prospects for a gold-backed stablecoin, dubbed Tether Gold.Although Ardoino didn’t reveal any additional details about Tether Gold, he did reveal that the company is currently eyeing a Q1 2020 launch of…

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Crypto News 

Crypto Capital Exec Indicted on Three Criminal Counts in NY Court

“The United States Attorney for the Southern District of New York has indicted Crypto Capital executive Oz Yosef on three criminal counts” writes Joeri Cant for cointelegraph.com. An Oct. 23 court filing obtained by Cointelegraph confirmed that Oz Yosef has been indicted by U.S. authorities on conspiracy to commit bank fraud, bank fraud and conspiracy to operate an unlicensed money transmitting business.Bitfinex claimed that Crypto Capital spread the firm’s funds across multiple bank accounts in several countries, making it difficult to access.The filing would appear to confirm allegations from cryptocurrency…

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Crypto News 

Bitfinex Attempts to Recover $880 Million in New Court Filing

“IFinex, the parent company of major cryptocurrency exchange Bitfinex filed a discovery application to regain access to $880 million in funds” writes Adrian Zmudzinski for cointelegraph.com. According to the exchange, its former Crypto Capital used at least one account at TCA to enable fiat operations. The exchange says it will pursue legal action to regain access to the given funds in all the relevant countries.Bitfinex reportedly states that the filing is part of the firm’s efforts to recover the funds that have been inaccessible since at least December 2018 after…

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Crypto News 

Bitfinex Launches Affiliate Program with ‘Unlimited’ Commission

“Crypto exchange Bitfinex on Thursday has launched an affiliate program for the traders on the exchange” writes Arnab Shome for financemagnates.com. You only need to believe in crypto,” Bitfinex noted.Similar to any other affiliate program, it will have a tiered commission structure, allowing the affiliates to earn a percentage of the trading fees for up to three levels of referrals within their network.You don’t need to be an experienced crypto trader or a technologically savvy person who understands cryptographic calculations to promote the ecosystem.London Summit 2019 Launches the Latest Era…

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Crypto Markets News 

Class Action Accuses Tether and Bitfinex of Market Manipulation

“A New York-based legal firm has filed a lawsuit against Tether and Bitfinex, accusing them of cryptocurrency market manipulation” writes Helen Partz for cointelegraph.com. Roche Freedman filed a class-action suit claiming that stablecoin firm Tether and its affiliate crypto exchange Bitfinex have been involved in defrauding investors, manipulating markets and concealing illicit proceeds, the firm’s founding partner Kyle Roche tweeted on Oct. 7. Instead, the firm says that Tether “issued extraordinary amounts of unbacked USDT to manipulate cryptocurrency prices.” The document reads: “Because the market believed the lie that one…

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