Bitcoin Advocate Comes In Support Of Liebowitz Against Bitfinex

Jyoti  |  Jan 30, 2020

Andreas Antonopoulos, a Greek-British Bitcoin advocate, on January 27, 2020, filed an affidavit in support of a legal team of Liebowitz. Antonopoulos, who was also associated with Kleiman v. Wright’s case, filed the affidavit for vouching for the expertise of the team.

Liebowitz suggested a list of attorneys from three separate firms, to represent the case. While appreciating his firm’s work on Kyle Roche’s case, Antonopoulos asked the court to lead the proceeding. According to Antonopoulos, the firm uniquely qualified to represent the members of the class. He further stated,

“In the Kleiman matter, Mr Roche has repeatedly demonstrated an understanding of the technical and functional properties of bitcoin, cryptocurrencies, blockchain, and their underlying cryptographic principles superior to many other attorneys.”

Four Separate Complaints Against Bitfinex Related Firms

According to the reports, in recent months, four separate class-action complaints were filed against Tether and iFinex accusing them of manipulating Bitcoin prices. The first case against Bitfinex was filed in the month of October by Liebowitz, which was followed in November by Young which lastly was followed by Ebanks and Faubus in the month of January.

According to Karen Lerner, the lead attorney for Young, the Radice and Kirby Mclnerny law firm’s complaint stood out in the argument because of their significant investment resources. In reply, Kyle Roche claimed, “Our firm brings unparalleled experience and expertise in cryptocurrency litigation.”

Whale Trading Theory By Griffin & Shams

In June 2018, John Griffin and Amin Shams published their research which spread a theory that the Bitcoin market was being manipulated by the single whale trading USDT on Bitfinex.  In the year 2019, they updated their work and specify that Bitfinex was the culprit.

According to a media report, soon after Griffin and Sham’s research was published, Bitfinex and Tether publicly rejected their theory. Bitfinex and Tether even rejected the lawsuits filed against them and called it “mercenary and baseless.”

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