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A US Bankruptcy Court has ruled that Celsius Network can proceed with key claims against Tether, including allegations of preferential transfers and breach of contract. The case revolves around 57,000 BTC, now worth over $4 billion, which Celsius claims were improperly seized or liquidated. This ruling marks a pivotal moment in one of crypto’s largest asset recovery battles.
- Celsius can pursue claims over 57,000 BTC ($4B+) tied to alleged preferential transfers, breach of contract, and unauthorized liquidation by Tether.
- Tether liquidated 39,542 BTC in 2022 without a contractual 10-hour notice, causing $100M+ losses, per Celsius.
- Court dismissed claims under BVI law but preserved core arguments, setting up a precedent-setting crypto bankruptcy case.
📎 Related coverage from: cryptoslate.com
Related Tags: Bitcoin
Other Tags: Celsius Network, Tether (USDT)