Even though the market manipulation charges against cryptocurrency exchange Bitfinex and the stable coin issuer Tether has been dropped on January 7th, but has now been refiled in New York’s Southern District Court, Cointelegraph reports on January 13th.
The new suit retains the claims of the first one, originally filed in Washington State’s Western District, as well as adding a third claimant - Eric Young and Adam Kurtz are now joined by David Crystal. Plaintiffs argue that the belief that each USDT represented one USD led traders to eagerly participate in the market, boosting it by an excessive amount that later led to the 2018 bear market.
The news of the original manipulation charge has been met with disbelief from a large part of the crypto community as it wasn't apparent why the plaintiffs would give up on their claims while the New York Attorney General is still actively perusing the charges against Bitfinex and Tether. The change of venue thus makes a lot of sense and it would appear that neither plaintiffs are ready to give out their claims even though Bitfinex and Tether are categorically denying all charges of manipulation while the investigation has unearthed a series of concerning events taking place in the story.