Plaintiffs in the multi-year class action against Tether and Bitfinex have filed an amended complaint accusing the companies of manipulating the prices of cryptocurrencies through a deceptive scheme involving USDT, a dollar-backed stablecoin. 📉

The complaint alleges that Tether and Bitfinex "artificially inflated the prices" of cryptocurrencies, including Bitcoin (BTC), through "massive, carefully planned purchases."

The plaintiffs claim that Tether issued billions of USDT without dollar backing, violating the Commodity Exchange Act and the Sherman Antitrust Act.

It's the third complaint in the case, which began in 2019, and the companies dispute it as an attempt to revive the failed case.