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CryptoIntelligence 2024-08-11 16:13:50

Celsius Files Lawsuit Against Tether, Seeking Billions of Dollars in Bitcoin Returns

Defunct cryptocurrency exchange Celsius has filed a lawsuit against Tether, accusing the company of misappropriation of assets and seeking approximately $3.5 billion in Bitcoin returns, damages, and legal fees. Tether reports that Celsius is seeking the return of about $2.4 billion worth of Bitcoin. However, court documents reveal that Celsius is asking for relief in the form of 57,428.64 BTC, or its current market value, plus damages and legal fees. The lawsuit stems from a loan agreement during Celsius’ bankruptcy proceedings, where Tether loaned Celsius a specific amount of Tether (USDT), the company’s stablecoin. In exchange, Celsius provided 39,542.42 BTC

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