Celsius Sues Tether for $3.3 Billion Over Alleged Fraudulent Transfers

The bankrupt crypto lender claims Tether liquidated Bitcoin collateral improperly, while Tether vows to fight the lawsuit in court.

Celsius filed a lawsuit seeking to recover $3.3 billion in Bitcoin from Tether, alleging improper liquidation of collateral.
Tether denies the claims, labeling the lawsuit as a baseless 'shakedown' and asserting that it acted within contractual terms.
The dispute centers on Bitcoin transfers and collateral demands made during a market crash in 2022, prior to Celsius' bankruptcy.
Celsius has also initiated lawsuits against other crypto entities, including Bancor, Badger DAO, and Compound Finance, for similar grievances.
Tether assures its token holders that the lawsuit will not impact them financially, citing strong consolidated equity.