Celsius is suing Tether for $4 billion over the premature liquidation of 39,500 Bitcoin during Celsius’s 2022 collapse.
Celsius alleges that Tether violated lending agreements, acted in bad faith, and made fraudulent transfers by selling Bitcoin below fair market value.
A U.S. bankruptcy court has allowed Celsius's $4 billion lawsuit against Tether to proceed, claiming that Tether's actions involved U.S.-based elements.
The lawsuit, involving breach of contract, bad faith, and bankruptcy code violations, signifies that the events of 2022 are ongoing and contentious in the crypto industry.