Celsius

Bitcoin

Coin

<ul class="wp-block-list news-points"> 
 <li>Celsius filed a lawsuit against Tether, alleging misappropriation of assets.</li> 
 <li>Tether calls the lawsuit baseless and adds that the platform will fight against it.</li> 
 <li>The lawsuit is based on a 2022 agreement in which Tether provided USDT to Celsius.</li> 
</ul>   
In a recent development, the defunct crypto exchange Celsius filed a lawsuit against the blockchain platform Tether, alleging misappropriation of assets. In response, Tether has <a href="https://tether.io/news/tether-will-defend-itself-against-shake-down-litigation-commenced-by-celsius/" target="_blank" rel="nofollow">decided</a> to fight against what CEO Paolo Ardoino addressed as a “baseless” lawsuit.   
In 2022, Tether entered into an agreement with Celsius, making USDT available to the latter. While Tether availed the stablecoin in amounts requested by Celsius, it was collateralized by Bitcoin. As Bitcoin began falling in June 2022, Celius was supposed to submit additional collateral to avoid BTC liquidation. However, Celsius failed to do so and demanded Tether to liquidate the Bitcoins that Tether held as collateral, closing out an approximately $815 million position.   
With the current lawsuit, Celsius seeks to claw back $2.4 billion in Bitcoin from Tether. According to Tether’s statement, the exchange claimed it sent almost 39,542.42 BTC i…
The post <a href="https://coinedition.com/celsius-files-a-lawsuit-against-tether-tether-fights-back-report/">Celsius Files a Lawsuit Against Tether; Tether Fights Back: Report</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Celsius Files a Lawsuit Against Tether; Tether Fights Back: Report

Coin Edition

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