Bittrex, Poloniex newly named in Bitcoin price manipulation and Tether lawsuit

posted about 1 month ago
Another two major cryptocurrency exchanges – Bittrex and Poloniex – have been summoned to the court in connection to their involvement in the alleged Bitcoin price manipulation during the 2017 bull run. The June 3rd filings were made by the same plaintiffs who brought Bitfinex and Tether to court last October for artificially inflating the price of Bitcoin.

Per the lawsuit, Tether issued billions of USDT without backing them with the US dollar and purchased Bitcoin from the spot market, thus pushing up the demand of the digital currency. “...Bittrex... and Poloniex... used fraudulently issued USDT to make strategically timed, massive purchases of crypto commodities…” the filing states.
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