Judge dismisses Tether, Bitfinex class action lawsuit
Tether, the company that issues USDT, has announced that a court in New York has dismissed a class action lawsuit that was filed against them and Bitfinex. The order was issued by US District Court Judge Laura Talyor Swain in response to the lawsuit brought by Matthew Anderson and Shawn Dolifika. Paolo Ardoino, the CTO of Tether and Bitfinex, also confirmed the news on X, formerly Twitter. It's a good Friday.#Tether and @Bitfinex Win Comprehensive Legal Victory as U.S. District Court Dismisses Class Action Lawsuit The Court correctly held that plaintiffs’ complaint lacked any “plausible allegations of injury” because it includes no facts showing that “USDT had a… — Paolo Ardoino (@paoloardoino) August 4, 2023 In 2021, Anderson and Dolifika took legal action against Tether and Bitfinex, alleging that they deceived USDT users about the coin’s reserves. They argued that Tether’s reserves were not solely in USD but were a combination...