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 author_nan | 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

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