Bitfinex Anticipates Meritless and Mercenary Lawsuit Based on Bogus Study
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The TL;DR: USDT issuances sometimes come with BTC price increases because people create USDT to buy BTC, nothing shady required to explain that.
Doesn't matter, not going to deposit money in Bitfinex as long as it is an easy target for getting sued or a subpoena. The fact that finex could not hold good relations with a bank for EU deposits and changed their bank every week or two was not reassuring either
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BFX is aware of an unpublished and non-peer reviewed paper falsely positing that Tether issuances are responsible for manipulating the cryptocurrency market. BFX disputes the conclusions claimed by that source, which rely on flawed assumptions, incomplete and cherry-picked data
It’s like saying bank wire transfers into exchanges are proof someone is deliberately manipulating the market.
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Well said that man! Too many false narratives flying around...
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Lots of major exchanges don't have fiat. If you want to buy BTC on e.g. Binance/Huobi/OKEx, you need USDT, not USD.
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So ridiculous, the causality couldn't be simpler: people buying Bitcoin need dollars to buy, is highest volume asset just behind Bitcoin itself, so ofc tether inflows precede Bitcoin price increases. The conspiracy FUD is just 🤡 stupid.
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