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A US judge has ruled that Celsius Network’s lawsuit against Tether over a $4 billion Bitcoin liquidation can proceed. The lawsuit alleges Tether improperly sold Celsius’s BTC collateral during its collapse. Key parts of Tether’s dismissal bid were rejected.
- Celsius accuses Tether of improperly liquidating 39,500 BTC collateral in a 'fire sale' during its collapse.
- The lawsuit alleges Tether breached lending terms and violated BVI law on 'good faith and fair dealing.'
- The judge partially denied Tether’s dismissal bid, allowing key claims under US bankruptcy law to proceed.
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