The U.S Department of Justice (DOJ) has set its sights on Bitfinex and Tether Ltd in its probe into last year’s bitcoin price surge. The DOJ is inquiring into the possibility of market manipulation, involving the use of Tether’s stablecoin to drive up the price of Bitcoin.
According to a Bloomberg report, the DOJ is inquiring whether Tether and Bitfinex engaged in illicit trading activities aimed at driving up the price of Bitcoin last year. This DOJ probe is in addition to an on-going inquiry by CFTC into the activities of Tether Ltd and Bitfinex. The two government bodies will now commence a coordinated investigation into both cryptocurrency firms.