Tether rejects the idea of havingmanipulated the market in any way. There is a widespread accusation that Tethercontributed to creating the "largest bubble in history."

Tether created the USDT stablecoin, and it had come under fire for more than on one occasion. A recently published paper brought forth allthese allegations over to the top. Subsequently, investors who thought that the company misled theminitiated a lawsuit. Tether is now all set to bring that frivolous suit out ofthe court.

Tether filed a motion with theU.S. District Court in the Southern District of New York, requesting for thedismissal of the case. Tether claimsthat the legal suit is full of holes and that it does not have the requiredlegal basis to work past the early stage of the case. Tether also argued that the academic paperwhich prompted the filing of the suit was flawed. Further stated that theauthors in the process of making changes to their paper reversed their courseconcerning one of the chief allegations, which is listed in the suit.

According to Tether, the suit, onthe whole, is flawed. A post on theTether website argues as follows: “claims, without evidence and in defiance ofreason, that somehow Tether manipulated a market more than seven hundred timesthe size of total Tether USDT issuances in circulation between March andDecember of 2017, something that any sophisticated and rational observer of thedigital token ecosystem knows to be ridiculous.”

Tether has been dealing with a series of such complaints during the past couple of years, and severe allegations have been charged during 2019.  The New York State Attorney General’s Office is investigating the stable coin project and the crypto exchange partner Binance concerning a deal that went sideways after Tether’s $850-million bailout of the exchange.

Tether and Binance are being suedin the office, and they will continue to play out in the court the followingyear. Tether is ready to defend itself in the court; however, Tether has neverbeen willing in the past to support its holdings or financial standingbefore.

Tether is looking forward toputting facts before the court. ThePlaintiffs continue to act like it would undermine the many contributions ofthe several contributions made by thousands of members in the digital tokeneconomy.

Tether is all set to content the claims of the Plaintiffs, and they are likely to defend themselves, their customers, stakeholders, and the cryptocurrency community.