Bitcoin Manipulation, Binance, Bitfinex, Tether, And That 1.1 Million BTC

Bitcoin could still yet break $6,000 as momentum holds, but charges of manipulation and calls for Binance to delist Tether, the 1.1 million bitcoin at the centre of a long-running Florida court case and a New York State injunction threatening to cripple the operations of Bitfinex, are converging to provide market participants with plenty to chew on, if not choke over. At the centre of the angst is the British Virgin Islands registered Bitfinex exchange and the stablecoin operated by its sister company Tether.

Such is the dominance of the Tether (USDT) stablecoin despite its many competitors, the vortex its woes have set in motion threatens to suck other major crypto players into the storm.

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