BitcoinSistemi 2025-07-02 16:11:07

Court Blocks Tether in $4 Billion Bitcoin (BTC) Case! Judge Rejects Request!

Bankrupt cryptocurrency lender Celsius filed a lawsuit against USDT issuer Tether in 2024, demanding the return of $2.4 billion worth of Bitcoin. The dispute between Celsius and Tether dates back to a 2022 agreement in which Tether provided USDT to Celsius, which sent Bitcoin (BTC) as collateral. Tether argues that Celsius is attempting to shift the blame for his own financial mismanagement onto Tether by requesting the return of approximately $2.4 billion worth of BTC (as of the date of the lawsuit), despite the liquidation being carried out at his direction and with his consent. While the case is ongoing, the US bankruptcy court allowed Celsius’ $4 billion (the current value of BTCs) BTC liquidation lawsuit against Tether to continue. At this point, the US bankruptcy judge rejected significant parts of Tether’s motion to dismiss the case and related motions. The judge also rejected Tether’s motion to dismiss the case. Celsius alleges in the lawsuit that Tether improperly liquidated more than 39,500 BTC during the crypto lender’s collapse in 2022, violating contract terms and U.S. bankruptcy law. Celsius alleges that Tether panic-sold bitcoins before the required legal deadline, selling them for less than their value and without Celsius’ approval. *This is not investment advice. Continue Reading: Court Blocks Tether in $4 Billion Bitcoin (BTC) Case! Judge Rejects Request!

Related News

Hyper Tops Total Profit List with $11.61M Long BTC...
06 Jul 2025
Hyper Builds Massive $11.17M Long Position in BTC,...
06 Jul 2025
Bitcoin Faces Significant Decline in User Activity...
06 Jul 2025
Bank Insider Admits to Nearly Decade-Long Scheme o...
06 Jul 2025
Ethereum Price to Hit $6K This Year? Analysts Make...
06 Jul 2025
Ethereum Reserves On Binance Hits 2023 Level — Wha...
06 Jul 2025

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.

Court Blocks Tether in $4 Billion Bitcoin (BTC) Case! Judge Rejects Request!

Most Read News

Related News