Celsius Wins Key Ruling in $4B Lawsuit Against Tether Over Bitcoin Liquidation

  • A New York bankruptcy court has allowed Celsius to proceed with most of its $4 billion lawsuit against stablecoin issuer Tether, according to a court filing dated June 30. The lawsuit centers on Tethers alleged improper liquidation of nearly 40,000 BTCworth over $4.3 billion at todays pricesthat Celsius had posted as loan collateral in June 2022, shortly before the crypto lender froze customer withdrawals.