Ripple CTO Stands Up for Tether in $42M Freeze Case

Ripple's Chief Technology Officer (CTO), David Schwartz, has defended Tether in a $42M USDT freeze case currently being heard by the Southern District of New York (SDNY) court.

Schwarz stated that 'the court's order freezing the assets was not based on any wrongdoing by Tether or its parent company Bitfinex.'

The lawsuit claims that Bitfinex and Tether manipulated the price of USDT by creating new USDT without sufficient reserves to back them.