Poloniex and Bittrex File for Summary Judgement in Case that Involves Tether and Bitfinex

Poloniex and Bittrex File for Summary Judgement in Case that Involves Tether and Bitfinex

By Abhimanyu Krishnan | News | 11 Aug 2020


According to court filings made on August 7, lawyers representing Poloniex and Bittrex have pushed for summary judgement in a case involving the two, as well Tether and Bitfinex. The parties have told Judge Katherine Polk Failla of the Southern District of New York of their intention. 

  • Poloniex, Bittrex, Tether and Bitfinex are fighting a class action lawsuit involving fraud and market manipulation
  • The lawsuit first began in October 2019, centering on market manipulation
  • The plaintiffs argue that Bitfinex and associated entities wreaked economic damage, also claim that "false information about USDT being backed 1:1 by U.S. dollars" was shared with the public
  • Reparations demanded by plaintiffs' exceed $1 trillion
  • The summary judgement says that it cannot be proved that addresses in the lawsuit belong to Bitfinex
  • Poloniex and Bittrex's attorneys claim that there is no apparent connection to Bitfinex

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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