**Crypto Giants Tether and Bitfinex Face Fresh Allegations in Ongoing Lawsuit**

A class-action lawsuit against Tether and Bitfinex has taken a new turn. Plaintiffs have filed an amended complaint in the Southern District of New York, accusing the companies of manipulating cryptocurrency prices through a deceptive scheme involving Tether’s stablecoin, USDT.

Key allegations include:

- Tether and Bitfinex allegedly inflated crypto prices, including Bitcoin, by making massive, timed purchases.

- The purchases were supposedly financed with USDT that wasn’t backed one-to-one by US dollars, contrary to Tether’s claims.

- Plaintiffs argue this scheme violated the Commodities Exchange Act and the Sherman Antitrust Act.

The lawsuit, initiated in 2019, has faced multiple delays, including the removal of the Plaintiffs’ original legal counsel in 2022. Tether and Bitfinex have dismissed the amended complaint as a desperate attempt to revive a failing case, stating that extensive discovery has revealed no evidence of market manipulation.

Stay tuned as this high-stakes legal battle unfolds.