The bull-to-bear transformation of digital currency is extremely fast, a few people make money, and most people lose money.
Now the gospel has come, All those who have lost money in digital currency can sue Bitfinex for compensation, because Bitfinex is suspected of manipulating Bitcoin and other digital currency markets through USDT.
As Uncle Kai said in "Cai Kailong: The price of Bitcoin is manipulated!" Do you still dare to hold it? "Prejudgment of the article: After more than a year of careful research, the two professors concluded that the price of Bitcoin was manipulated by Bitfinex, which would have far-reaching consequences. As soon as Uncle Kai’s words fell, five American currency citizens hired two law firms to jointly initiate a class action lawsuit against Bitfinex for manipulating the market, causing them losses in currency speculation, and demanding compensation.
In the 96-page indictment submitted, the plaintiffs and lawyers listed hundreds of crimes against Bitfinex in detail, mainly focusing on accusing Bitfinex/Tether of creating false demand, manipulating Bitcoin and all other transactions by issuing USDT. Digital currency market. Unsurprisingly, the plaintiffs' main evidence was the heavyweight academic papers of the two professors.
Although the current judicial process has just begun, that is, the plaintiff submits the indictment and applies to the court for trial, but once the court accepts the trial, the plaintiff of the class action will theoretically cover all currency people who have lost money in digital currency. People may seek compensation from Bitfinex.
Of course, those who have lost money should not be too happy. There are three major prerequisites here: first, the court accepts the trial; second, the plaintiff wins the case in the end, and the court awards Bitfinex compensation; standard.
Bitfinex is well aware of the far-reaching impact of this case. Once it loses the lawsuit, it is estimated that it will lose all its money. And if it makes such a statement, it does not know how many lawsuits will follow. Bitfinex tried its best to block it on the first step. On November 15, Biftinex issued an announcement: It has filed a motion with the court, requesting the court not to accept the plaintiff's class action. Of course, the reasons put forward by Bitfinex are as pale as ever. The main reason is that the research of the two professors is wrong and the plaintiff’s allegations are false. . . The full text is 2 pages long, without any substantive evidence, and lacks persuasiveness. Compared with the 96-page complaint of blood and tears and the 196-page professor's research report, the prosecution has obviously done enough homework and collected a lot of evidence, and the facts and arguments are very sufficient. The strength and weakness of both sides are clear at a glance.
Uncle Kai predicted that if Bitfinex did not follow up to supplement the hard-core information and reasons, there is a high probability that the court will accept the case and enter the key judicial process. According to past history, Bitfinex has been involved in lawsuits and has a bad record. If it really enters the judicial process, the probability of losing is very high.
Assuming Bitfinex loses the lawsuit, it will be the final compensation procedure. Bimin can register with the plaintiff’s law firm according to the scope of the class action specified in the indictment. As one of the victims of the class action, he can get some compensation.
It's a pity that most Chinese renminbi can only be regarded as melon-eating audiences.
Uncle Kai read in detail the definition of the scope of the class action in their indictment,Restricted to those who have made all digital currency-related transactions on U.S. soil since October 6, 2014. In other words, the scope is not limited to nationality but limited to the place where the transaction takes place.
Chinese currency people check carefully whether the place of transaction or the place of registration of the exchange is on the territory of the United States. However, it is not completely helpless for Chinese currency people. If Bitfinex loses the lawsuit in the United States, although Chinese currency citizens cannot obtain direct compensation, they can also sue Bitfinex in China. Just compensation may only be able to pick up the leftovers of the American currency people.
It seems that the laws and regulations of the United States are still relatively sound, and there are still such invisible benefits in choosing a US exchange or trading digital currency on US territory. It’s no wonder that exchanges are very cautious about entering the U.S. market. Some exchanges simply abandon the U.S. market completely, and some exchanges have independent entities to serve the U.S. market. The underlying reason is to prevent similar legal proceedings from affecting the head office.
So Uncle Kai gave Bimin a suggestion,An exchange is registered and operated in the United States. The cost of doing evil is extremely high, and the possibility of wantonly cutting leeks will be much lower. You should try to choose exchanges under such strong supervision to trade, and your rights and interests are relatively guaranteed.
