Plaintiffs accuse Tether of market manipulation in revised lawsuit

Plaintiffs in a class action lawsuit against Tether and Bitfinex have filed a second amended complaint in the Southern District of New York, according to CoinDesk. The complaint alleges that Tether manipulated Bitcoin prices and violated antitrust laws by issuing unbacked USDT to create a false demand for cryptocurrencies, thus inflating their prices. This is the third version of the complaint, with previous versions filed in 2019 and 2020. The lawsuit, overseen by Judge Katherine Polk Failla, includes allegations of market manipulation and monopolization under the Commodities Exchange Act and Sherman Antitrust Act. Tether denies the claims, calling them baseless.