.Tether_to says that it looks forward to 'dispensing' with the plaintiff's lawsuit
has addressed a recent court order that compels the company to provide financial records that prove the backing of the USDT token.Tether has stressed that the order does not substantiate the plaintiff's"meritless claims" in any way.It is worth noting that Tether argued against producing the documents in question, arguing that it would be too"burdensome" for the defendants.
Tether claims that the dispute was about the scope of the documents that were supposed to be produced by the defendants., Tether was taken to court back in October 2019 by a group of traders who accused the company of manipulating the cryptocurrency market by creating USDT tokens"out of thin air" and artificially inflating the price of Bitcoin. The plaintiffs are seeking a whopping $1.4 trillion in damages.
In November 2019, Tether failed to dismiss the $1.4 trillion lawsuit, describing it as"frivolous." As
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