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Judge Says $4 Billion Celsius Lawsuit Against Tether Can Proceed
Bankrupt crypto lender Celsius can proceed with its $4 billion case against stablecoin giant Tether, a U.S. bankruptcy judge in the Southern District of New York has ruled. However, Martin Glenn, chief United States bankruptcy judge, did grant some elements of Tether’s motion to dismiss. These include Celsius's allegations that hinge on one of Tether’s subsidiaries being based in the British Virgin Islands and therefore subject to the duty of “good faith and fair dealing” as defined under the island’s law. Tether had previously dubbed the case “baseless” and a “shakedown” when it was filed in August ... (full story)
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