January 10, 2020 Lawsuit against Bitfinex and Tether for alleged market manipulation has been refiled in the Southern District of New York.

The suit, originally filed in the state of Washington, alleges USDT tokens were minted without the backing of USD normally held in Tether’s reserves and used to purchased BTC, resulting in BTC price increases. Other accusations against the organizations include manipulation of BTC futures on the Chicago Mercantile Exchange. The original case alleged Bitfinex and Tether “monopolized and conspired to monopolize the Bitcoin market.” Bitfinex and Tether have denied all allegations.