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US Judge Allows Celsius' $4 Billion Bitcoin Liquidation Lawsuit Against Tether to Proceed
Summary: According to reports, a US judge has rejected Tether's partial motion to dismiss, allowing Celsius Network's lawsuit against Tether involving billions of dollars to proceed. Celsius alleges that Tether improperly liquidated around 39,500 bitcoins pledged in June 2022, violating procedures outlined in their loan agreement, resulting in Celsius losing over $4 billion. Despite Tether arguing ...
According to reports, a US judge has rejected Tether's partial motion to dismiss, allowing Celsius Network's lawsuit against Tether involving billions of dollars to proceed. Celsius alleges that Tether improperly liquidated around 39,500 bitcoins pledged in June 2022, violating procedures outlined in their loan agreement, resulting in Celsius losing over $4 billion. Despite Tether arguing lack of jurisdiction in US courts, the judge ruled that Celsius' claims of breach, fraudulent transfer, and priority can proceed.
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Link: US Judge Allows Celsius' $4 Billion Bitcoin Liquidation Lawsuit Against Tether to Proceed [Copy]
