Tether Vs. Celsius: Celsius Network has sued Tether Limited, accusing them of a $2.4 billion Bitcoin fraud. Tether denies the claims, calling them baseless “shakedown” and pledges to fight back.
Celsius, a company that used to lend cryptocurrency, says that Tether, another big crypto company, took their money without permission. Tether says this isn’t true and that Celsius is just trying to blame them for its own problems.

Tether vs. Celsius: The Background of the Dispute
The legal dispute started from an agreement between Tether and Celsius in 2022. Tether gave Celsius its USDT stablecoin, and Celsius put Bitcoin as collateral. This was meant to secure the loan and manage the risk of Bitcoin’s price changes.
What Happened in June 2022
In June 2022, Bitcoin’s price experienced a significant drop. Under the terms of the agreement, Celsius was required to add more Bitcoin to maintain the collateral value. Instead, Celsius asked Tether to sell the Bitcoin it was holding to cover the loan. Tether sold about $815 million worth of Bitcoin and returned the extra money to Celsius.
Celsius says Tether’s actions caused its bankruptcy and wants $2.4 billion in Bitcoin back. They think Tether should pay for the losses they faced.
Tether Vs. Celsius: Tether’s Response On X.
Tether strongly denies these claims on X (Twitter). They say the lawsuit is baseless and just a way to benefit lawyers and bankers. Tether insists they followed the agreed terms and believes the lawsuit is an attempt to blame them for Celsius’s own mismanagement and financial issues.

Tether Vs. Celsius: The legal fight between Tether and Celsius Network over the $2.4 billion Bitcoin fraud case is drawing a lot of attention in the crypto world. As the case continues, it will be important to see how it affects both companies and the larger cryptocurrency industry.
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