tldr; Tether has paid $299.5 million to settle claims from the Celsius Network bankruptcy estate, resolving a lawsuit over the liquidation of Bitcoin collateral. Celsius had alleged improper liquidation of nearly $4.5 billion worth of Bitcoin, while Tether maintained it acted lawfully under a 2022 agreement. The settlement ends the adversary proceeding, with Tether CEO Paolo Ardoino confirming the resolution of all issues. The Blockchain Recovery Investment Consortium facilitated the settlement to benefit creditors during Celsius’s wind-down phase.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
elenchick on
They have insane amount of money
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They got unlimited money answays…
tldr; Tether has paid $299.5 million to settle claims from the Celsius Network bankruptcy estate, resolving a lawsuit over the liquidation of Bitcoin collateral. Celsius had alleged improper liquidation of nearly $4.5 billion worth of Bitcoin, while Tether maintained it acted lawfully under a 2022 agreement. The settlement ends the adversary proceeding, with Tether CEO Paolo Ardoino confirming the resolution of all issues. The Blockchain Recovery Investment Consortium facilitated the settlement to benefit creditors during Celsius’s wind-down phase.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
They have insane amount of money