How Tether Quietly Snatched Victory from the Flames of Celsius Bankruptcy – What Nobody Saw Coming
Who would’ve thought a crypto drama saga could finally get its period? After more than three years of court battles and eyebrow-raising legal wrangles, Tether has put a full stop on all claims tied to the Celsius bankruptcy case. You remember Celsius, the crypto lending giant that froze withdrawals back in 2022 and then famously crumbled under market turmoil, right? Well, Tether’s settlement isn’t just a handshake—it’s the closure of a lengthy tussle over Tether’s controversial role in liquidating Celsius loans during the chaos. It begs the question: can this settlement shift the narrative for crypto firms caught in the crossfire of bankruptcies and blockchain buzz? Let’s unpack what this means for the industry and why the dust might finally be settling on one of crypto’s most charged courtrooms. LEARN MORE
Key Takeaways
- Tether has settled all claims relating to the Celsius bankruptcy case.
- The settlement resolves long-standing disputes regarding Tether’s role in liquidating Celsius loans during the lender’s 2022 collapse.
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Tether has settled all claims related to the Celsius bankruptcy case, CEO Paolo Ardoino announced today. The agreement resolves disputes between Tether and Celsius, a crypto lending firm that filed for bankruptcy in 2022.
Tether had previously described the litigation as an unfounded attempt by Celsius to extract funds during its bankruptcy proceedings. The stablecoin issuer maintained it was defending against claims initiated by the lending platform.
The disputes stemmed from Tether’s involvement in liquidating Celsius loans during market volatility that contributed to the lender’s collapse. Celsius filed for Chapter 11 bankruptcy protection in July 2022 after freezing customer withdrawals amid a liquidity crisis.
The settlement marks the resolution of one of the remaining legal challenges from Celsius’s bankruptcy case, which has been unwinding for over three years.
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