NY Bankruptcy Judge Gives Celsius the Green Light to Pursue $4.3B Lawsuit Against Tether

NY Bankruptcy Judge Gives Celsius the Green Light to Pursue $4.3B Lawsuit Against Tether

A New York bankruptcy court has given Celsius the go-ahead to pursue the bulk of its $4 billion lawsuit against stablecoin issuer Tether, according to a recent court filing.The bankrupt crypto lender filed suit against Tether last year, alleging that Tether improperly liquidated nearly 40,000 bitcoins — worth over $4.3 billion at today’s prices — that it was holding as loan collateral in June 2022, shortly before Celsius halted withdrawals. In t…

Judge Greenlights Celsius's $4B Showdown With Tether

Celsius vs Tether lawsuit moves ahead in US court over $4 billion Bitcoin sale – #CryptoUpdatesGNIT

Celsius claims Tether’s 2022 Bitcoin sale broke contract terms. Over 39,500 BTC were liquidated at $20,656 average price. Claims include breach of contract and fraudulent transfer. Celsius Network’s efforts to hold Tether accountable for a $4 billion Bitcoin liquidation just cleared a major hurdle in US court. A bankruptcy judge has now allowed Celsius to proceed with legal action against Tether, despite the stablecoin giant’s attempts to halt t…

Bankruptcy judge allows Celsius to proceed with claims against Tether in $4.3B dispute

A New York bankruptcy judge has allowed Celsius to pursue claims that Tether allegedly improperly liquidated its bitcoin collateral.

US court clears Celsius to pursue $4B claim against Tether over Bitcoin sale

A US bankruptcy court has allowed the Celsius Network to proceed with its case against Tether, the issuer of USDT Stablecoin. The lawsuit dates back to the 2022 crypto market crash, which led to Celsius’ bankruptcy. In its lawsuit, Celsius accused Tether of wrongfully selling up to 39,500 Bitcoin worth over $4 billion, which it held as collateral for Celsius. The firm reportedly sold the BTC after the price crash. However, the crypto lender clai…