The digital currency bulls and bears transform very fast, a few people earn, and most people lose.
Now that the gospel is coming, anyone who loses money on the digital currency can claim damages by suing Bitfinex because Bitfinex is suspected of manipulating Bitcoin and other digital currency markets through the USDT.
Just as Kay Uncle a few days ago, " Cai Kailong: Bitcoin prices are being manipulated! Do you dare to hold it? Pre-judgment of the article: After more than a year of careful study by the two professors, the conclusion that Bitcoin prices are manipulated by Bitfinex will have far-reaching effects. When Kai Shu’s voice just fell, there were five American currency people, hired two law firms, jointly launched a class action lawsuit, and sued Bitfinex to manipulate the market, causing them to lose money on the speculative currency and demand compensation.
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In the 96-page indictment filed, the plaintiff and the lawyer did not have a detailed account of the hundreds of crimes of Bitfinex, mainly focused on accusing Bitfinex/Tether of creating false demand, by issuing USDT, manipulating bitcoin and even all Digital currency market. Unsurprisingly, the main evidence of the plaintiff was the heavy academic papers of the two professors.
Although the judicial process has just begun, that is, the plaintiff submits the indictment to the court for trial, once the court is tried, the plaintiff of the class action lawsuit will cover all the coins that have lost money in the digital currency, that is, the world currency. People may find Bitfinex compensation.
Of course, the currency losers should not be happy too early. There are three major preconditions here: first, the court accepts the trial; second, the plaintiff wins the case, the court awards Bitfinex compensation; third, it must meet the plaintiff’s class action qualification. standard.
Bitfinex knows that the case has far-reaching effects. Once it loses, it is estimated that the old ones will lose their money, and this port is opened. I don’t know how many lawsuits will follow. Bitfinex is fully blocking the first step. On November 15th, Biftinex issued a notice: The motion has been filed with the court, asking the court not to accept the class action of the plaintiff. Of course, the reasons put forward by Bitfinex are as pale as ever, mainly because the research of the two professors is wrong, and the plaintiff’s allegations are false. . . The full text of 2 pages, without any substantive evidence, lacks persuasiveness. In contrast to the 96-page blood-threatening complaint and the 196-page professor's research report, the prosecution apparently did its homework and collected a large amount of evidence. The facts and arguments were very sufficient. The strength and weakness of both sides can be seen at a glance.
Uncle Kay predicted that if Bitfinex did not have the information and reasons for supplementing the hard core, the high-probability court would accept the case and enter the key judicial process. At that time, the two sides would have to be arguing with real guns, and it would become more and more exciting. According to past history, the Bitfinex lawsuit is riddled with inferiority. If you really enter the judicial process, the probability of losing is very high.
Assuming that the Bitfinex lawsuit is lost, the final compensation procedure, the currency can be registered with the plaintiff law firm according to the scope of the class action as stipulated in the indictment, as one of the victims of the class action, can be divided back some compensation.
It is a pity that most of the Chinese currency people can only eat the audience.
Uncle Kai saw in detail the definition of the scope of class actions in their indictments, limited to those who had all the digital currency related transactions that occurred on US territory since October 6, 2014. In other words, the scope is not limited to nationality but limits the location of the transaction.
Chinese currency people check it out, whether the place of transaction or the place where the exchange is registered is on US territory. However, Chinese currency people are not completely unable to do anything. If Bitfinex loses in the US, although Chinese currency people can't get direct compensation, they can also sue Bitfinex in China. It’s just that compensation may only ruin the wreckage of some American currency people.
It seems that the laws and regulations of the United States are relatively sound. There is still such a hidden advantage in choosing a US exchange or trading digital currency on US territory. It is no wonder that the exchanges are very cautious about entering the US market. Some exchanges simply give up the US market. Some exchanges separate the entities from the US market. The deep reason is to prevent similar legal proceedings and the head office.
Therefore, Uncle Kai gave the coin a suggestion . A transaction is registered in the United States. The cost of doing evil is extremely high. The possibility of cutting the leeks is much lower. You should try to choose the exchange under this strong supervision. Trading, its own rights are relatively guaranteed.