This article was prepared using automated systems that process publicly available information. It may contain inaccuracies or omissions and is provided for informational purposes only. Nothing herein constitutes financial, investment, legal, or tax advice.
A U.S. bankruptcy judge has ruled that Celsius can proceed with its $4 billion lawsuit against Tether, alleging improper liquidation of Bitcoin collateral. The case highlights jurisdictional challenges in cross-border crypto disputes. Meanwhile, Celsius has already repaid 93% of creditor claims.
- Celsius alleges Tether violated contractual terms by liquidating $4B in Bitcoin collateral without honoring a 10-hour waiting period.
- The ruling highlights jurisdictional risks for offshore crypto firms, as U.S. courts may assert authority over cases tied to U.S. communications or accounts.
- Celsius has repaid 93% of creditor claims ($2.5B to 251,000 creditors) since January 2024, though 121,000 smaller claimants remain unpaid.
📎 Related coverage from: decrypt.co