Tether Slams Celsius Network’s $2 Billion Lawsuit as Groundless
Tether denies Celsius Network's $2 billion liquidation claims, calling the lawsuit a tactic to deflect blame for Celsius' mismanagement.
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Tether denies Celsius Network's $2 billion liquidation claims, calling the lawsuit a tactic to deflect blame for Celsius' mismanagement.
Celsius is suing Tether for allegedly mishandling Bitcoin collateral, seeking around $3.5 billion. The lawsuit is contested by Tether, which claims Celsius directed the liquidation.
Celsius announced Wednesday that it has selected Novawulf Digital Management, a digital asset investment firm, to help bring its high-profile bankruptcy case to a close.
Digital assets deposited in Celsius Network’s Earn program belong to the bankrupt company’s estate and not individual users.
USDT stablecoin issuer Tether has denied any connection between its investment in Celsius and its reserves or stability.
The stablecoin issuer has once again explained that its investment in Celsius has no impact on its USDT reserves.
KeyFi Inc.’s complaint alleges that Celsius failed to honor a multi-million dollar profit sharing agreement after deploying numerous successful staking and DeFi strategies for the firm.
The USDT stablecoin issuer Tether denies any correlation between its investment in Celsius and its reserves or stability.
With a peso-backed stablecoin, Tether is essentially “recreating the foreign exchange market with a Tether product,” Ardoino said.
Hindenburg Research, which offered a $1 million bounty for information on Tether's reserves, said Tether hadn't actually disclosed any information "about its counterparty."