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Celsius To Sue Tether For $4 Billion: Here’s Why

  • 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.

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