As expected... BREAKING: Tether And Bitfinex Class Action Lawsuit Thrown Out By Judge – A Win For Crypto? by Christian Encila 8 hours ago in Crypto News Tether has just announced a key victory in its continuing legal conflict, marking a crucial legal milestone. The company reported that the court had officially dismissed a class action lawsuit involving its extensively utilized USDT stablecoin. This development indicates a favorable turn of events for Tether and emphasizes the firm’s dedication to maintaining its leadership in the cryptocurrency sector. According to the stablecoin issuer, US District Court for the Southern District of New York Chief Judge Laura Taylor invalidated a class action lawsuit Matthew Anderson and Shawn Dolifka brought against Tether and Bitfinex due to a lack of “plausible allegations of injury.” Related Reading: Elon Musk Tweets, Twitter Bot Activity Play Crucial Role In Inflating Altcoin Prices – Study Dismissal Based On Lack Of Plausible Injury Claims A “lack of plausible allegations of injury” describes a case in which there is not enough believable testimony or evidence to support the assertion that a person has suffered harm due to a particular event or action. Suppose a plaintiff’s claims of suffering damage are not reasonable by a court. In that case, it may impact the viability of a case since they lack persuasive evidence and fail to demonstrate that they have genuinely incurred any adverse effects. Following this legal triumph detailed in the six-page judgment, Tether and Bitfinex reaffirmed their commitment to upholding the interests of their users and the community. The company executives also affirmed their dedication to keeping their word and protecting customers. Bitcoin clings to the $29K handle - Chart: TradingView.com The stablecoin issuer stated in a blog post on their website: “The entirety of the class action complaint being dismissed at this very early stage of the proceedings punctuate the fact that plaintiffs’ claims were void of legal merit.” Tether Steady Performance The plaintiffs failed to mention any price changes in the USDT that would have impacted the value of their investment in their initial filing. Later, Tether maintained that the plaintiffs needed to demonstrate a decline in the value of USDT to prove their case. A case based on USDT’s value does not appear plausible given that, despite slight fluctuations, the stablecoin has maintained chiefly its $1.00 price peg. At the time of writing, Tether (USDT) was trading at $0.998671, nearly unchanged in the 24-hour and weekly timeframe, data from coin market tracker Coingecko shows. USDT peg to the US dollar. Source: CoinGecko Related Reading: Economic Setback: Ukraine Misses Out On $80M In Taxes As Crypto Regulations Lag The victory of Tether, the eleventh-largest Bitcoin holder in the world, comes just after the company announced a net profit of $850 million for the second quarter. Paolo Ardoino, the company’s chief technical officer, revealed the information and emphasized its importance as a “Good Friday” event for Tether and Bitfinex.
The day Jesus was crucified and died a horrible painful death? WTF. Paolo must be a Jew, celebrating the death of one who rebelled against the Yahweh code.
Wow, that's some interpitation from someone who doesn't believe in God! Try reading Revelation 13:16-18 16 It also forced all people, great and small, rich and poor, free and slave, to receive a mark on their right hands or on their foreheads, 17 so that they could not buy or sell unless they had the mark, which is the name of the beast or the number of its name. 18 This calls for wisdom. Let the person who has insight calculate the number of the beast, for it is the number of a man. That number is 666. Worldcoin? https://www.forbes.com/sites/seguno...nsidered-with-eyes-wide-open/?sh=3de21ec076b3
These news should be good for crypto acolytes, and the price of Bitcoin did not reflect it. The battle with Tether has been an on-going thing for ages and this was a kick in the butt for the SEC. What is going on? Did Bitcoin boys get tired of holding their bags? Tether was the pump for the pumping scheme on Bitcoin, have that changed now? Me-no-understand.
The government has been selling the seized Bitcoin from the dark markets. https://cryptopotato.com/us-government-sells-another-8200-bitcoin-on-chain-data-confirms/