The company also highlighted its strong financial standing, noting that its consolidated equity reached nearly $12 billion as of June 30, 2024.<\/p>\n\n\n\n
Tether has emphasized that, regardless of the outcome, its operations and token holders will remain unaffected. The company's financial health, coupled with its profitability, provides a buffer against the potential impact of the lawsuit.<\/p>\n","post_title":"Celsius Sues Tether For $3.5 Billion Over Alleged Mishandling Of Bitcoin Collateral","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"celsius-sues-tether-for-3-5-billion-over-alleged-mishandling-of-bitcoin-collateral","to_ping":"","pinged":"","post_modified":"2024-08-11 17:22:55","post_modified_gmt":"2024-08-11 07:22:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18185","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Additionally, Tether argued that Celsius' lawsuit is an attempt to shift the blame for its own mismanagement. \"This lawsuit seeks to improperly impose the costs of Celsius' failure on Tether,\" the company stated in a blog post. Tether remains confident in its legal position, asserting that the facts and the law are on its side.<\/p>\n\n\n\n
The company also highlighted its strong financial standing, noting that its consolidated equity reached nearly $12 billion as of June 30, 2024.<\/p>\n\n\n\n
Tether has emphasized that, regardless of the outcome, its operations and token holders will remain unaffected. The company's financial health, coupled with its profitability, provides a buffer against the potential impact of the lawsuit.<\/p>\n","post_title":"Celsius Sues Tether For $3.5 Billion Over Alleged Mishandling Of Bitcoin Collateral","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"celsius-sues-tether-for-3-5-billion-over-alleged-mishandling-of-bitcoin-collateral","to_ping":"","pinged":"","post_modified":"2024-08-11 17:22:55","post_modified_gmt":"2024-08-11 07:22:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18185","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
\"The complaint is undermined by the actual facts underlying the agreement between Celsius and Tether, relies on an obvious misapplication of the law, ignores the numerous defenses that Tether has to the claims asserted against it and raises substantial jurisdictional questions,\" the company said.<\/p>\n\n\n\n
Additionally, Tether argued that Celsius' lawsuit is an attempt to shift the blame for its own mismanagement. \"This lawsuit seeks to improperly impose the costs of Celsius' failure on Tether,\" the company stated in a blog post. Tether remains confident in its legal position, asserting that the facts and the law are on its side.<\/p>\n\n\n\n
The company also highlighted its strong financial standing, noting that its consolidated equity reached nearly $12 billion as of June 30, 2024.<\/p>\n\n\n\n
Tether has emphasized that, regardless of the outcome, its operations and token holders will remain unaffected. The company's financial health, coupled with its profitability, provides a buffer against the potential impact of the lawsuit.<\/p>\n","post_title":"Celsius Sues Tether For $3.5 Billion Over Alleged Mishandling Of Bitcoin Collateral","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"celsius-sues-tether-for-3-5-billion-over-alleged-mishandling-of-bitcoin-collateral","to_ping":"","pinged":"","post_modified":"2024-08-11 17:22:55","post_modified_gmt":"2024-08-11 07:22:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18185","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Tether has vigorously denied the allegations, describing the lawsuit as a \"baseless shakedown.\" The company asserts that it followed the terms of the 2022 agreement, under which Celsius had borrowed USD\u20ae, Tether's stablecoin.<\/p>\n\n\n\n
Tether's Response To The Allegations<\/h2>\n\n\n\n
Tether has vigorously denied the allegations, describing the lawsuit as a \"baseless shakedown.\" The company asserts that it followed the terms of the 2022 agreement, under which Celsius had borrowed USD\u20ae, Tether's stablecoin.<\/p>\n\n\n\n
The ongoing clash between defunct cryptocurrency exchange Celsius and stablecoin issuer Tether has escalated into a $3.5 billion lawsuit. Celsius claims that Tether mishandled a significant amount of Bitcoin collateral during the company's bankruptcy proceedings, leading to a substantial financial loss.<\/p>\n\n\n\n
Tether has denied the allegations, claiming that it followed the terms of its 2022 agreement with Celsius.<\/li>\n<\/ul>\n\n\n\n
The ongoing clash between defunct cryptocurrency exchange Celsius and stablecoin issuer Tether has escalated into a $3.5 billion lawsuit. Celsius claims that Tether mishandled a significant amount of Bitcoin collateral during the company's bankruptcy proceedings, leading to a substantial financial loss.<\/p>\n\n\n\n
The company is accusing Tether of mishandling 57,428.64 BTC, worth $2.4 billion, that was posted as collateral during Celsius' bankruptcy.<\/li>\n\n\n\n
Tether has denied the allegations, claiming that it followed the terms of its 2022 agreement with Celsius.<\/li>\n<\/ul>\n\n\n\n
The ongoing clash between defunct cryptocurrency exchange Celsius and stablecoin issuer Tether has escalated into a $3.5 billion lawsuit. Celsius claims that Tether mishandled a significant amount of Bitcoin collateral during the company's bankruptcy proceedings, leading to a substantial financial loss.<\/p>\n\n\n\n
The company is accusing Tether of mishandling 57,428.64 BTC, worth $2.4 billion, that was posted as collateral during Celsius' bankruptcy.<\/li>\n\n\n\n
Tether has denied the allegations, claiming that it followed the terms of its 2022 agreement with Celsius.<\/li>\n<\/ul>\n\n\n\n
The ongoing clash between defunct cryptocurrency exchange Celsius and stablecoin issuer Tether has escalated into a $3.5 billion lawsuit. Celsius claims that Tether mishandled a significant amount of Bitcoin collateral during the company's bankruptcy proceedings, leading to a substantial financial loss.<\/p>\n\n\n\n
