Tether investigated over market manipulation
The US Department of Justice is reviewing the company's shares during the month of May
The US Department of Justice is conducting an investigation against the Tether company for alleged market manipulation.
This process is being carried out together with the Commodity Futures Trading Commission (CFTC), who are reviewing the negociations of the company during the month of May of this year.
The case revolves around an alleged link between Tether, bitcoin and the Bitfinex platform, which are being accused of illegal trading actions to encourage the massive growth of the cryptocurrency market last year.
The DoJ is reviewing Tether’s arguments, the alleged support in the US dollar, the creation of the currencies and their entry into the market through Bitfinex.
The US authorities have not accused Bitfinex or Tether of any specific crime, nor have they presented definite charges.
K. Tovar
Source: Bloomberg
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