Will this affect the current uptrend of Bitcoin as most people holds USDT? If YES in which direction, upward or downward?
in the past, tether FUD has preceded large rallies. this is probably because the easiest exit from USDT is into crypto. when all the USDT markets are rising, the rest of the market eventually gets dragged upwards too.
i think this filing will establish jurisdiction for the state of new york to continue their investigations into fraud and securities violations. it will force the companies to produce lots more documents for investigators to parse through. this whole thing could end up dragging out for months or years. it looks really bad for bitfinex and tether though.
