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Roche Freedman LLP on Friday urged a New York federal court to let it continue representing investors suing the company behind the stablecoin tether and cryptocurrency exchange Bitfinex, saying accusations against the firm's founding partner shouldn't warrant disqualification of the entire firm.
Crypto.com decides against a $495 million sponsorship, Tether and Bitfinex ask for removal of Roche Freedman and Indonesia firms up crypto exchange preparations.
Legal counsel for Bitfinex and Tether says Roche Freedman should be withdrawn from the lawsuit entirely, as Roche can still “profit from any potential recovery.”
The company behind the stablecoin tether and cryptocurrency exchange Bitfinex wants law firm Roche Freedman LLP terminated as plaintiffs' counsel in a market manipulation class action it's facing, after an anonymous report alleged the firm's founding partner Kyle Roche formed a "secret pact" with a blockchain platform to sue crypto competitors.
The total crypto market capitalization dropped by 6.9% in one week, while derivatives metrics reflect increasing demand for bearish bets.