US Judge Allows Celsius to Proceed with $4 Billion Bitcoin Liquidation Lawsuit Against Tether
According to a report by Jinse Finance, a U.S. judge has denied Tether's partial motion to dismiss, allowing Celsius Network's multi-billion dollar lawsuit against Tether to proceed. Celsius alleges that in June 2022, Tether improperly liquidated approximately 39,500 Bitcoin in collateral, violating the procedures outlined in their lending agreement. This liquidation resulted in losses exceeding $4 billion for Celsius. Although Tether argued that U.S. courts lack jurisdiction, the judge ruled that Celsius's claims of breach of contract, fraudulent transfer, and preferential treatment may continue to be heard.
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