On Tuesday, the New York Supreme Court dismissed the lawsuit against Tether and Bitfinex, the two companies at the center of the ongoing legal battle. The lawsuit, which was filed by the New York Attorney General’s office in April 2019, alleged that the two companies had engaged in fraud and market manipulation.
The dismissal of the lawsuit was confirmed by Paolo Ardoino, Tether’s new CEO. In a statement, Ardoino said, “We are pleased that the New York Supreme Court has dismissed the lawsuit against Tether and Bitfinex. This is a positive outcome for both companies and we look forward to continuing to provide our customers with the best possible service.”
The lawsuit had alleged that Tether and Bitfinex had engaged in a number of fraudulent activities, including the issuance of unbacked Tether tokens and the use of customer funds to cover up losses. The lawsuit also alleged that the two companies had manipulated the cryptocurrency market.
The dismissal of the lawsuit is a major victory for Tether and Bitfinex, as it removes the threat of legal action against the two companies. It also provides some clarity to the cryptocurrency market, which has been in a state of flux since the lawsuit was filed.
The dismissal of the lawsuit is a major victory for the cryptocurrency industry as a whole, as it removes the threat of legal action against two of the industry’s most prominent companies. It also provides some much-needed clarity to the cryptocurrency market, which has been in a state of flux since the lawsuit was filed.
The dismissal of the lawsuit is a major victory for Tether and Bitfinex, and it is a positive sign for the cryptocurrency industry as a whole. With the lawsuit now dismissed, the two companies can focus on providing their customers with the best possible service.
NEW: 🟢 Paolo Ardoino, Tether’s upcoming CEO, shared that the lawsuit against Tether and Bitfinex was dismissed 👀
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