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#USDT Slams Celsius Lawsuit as a "Shakedown" đ„đ
Tether is firing back at Celsius. đ„The bankrupt crypto lender has recently filed a lawsuit against the stablecoin issuer, claiming damages of around $2.4 billion. đ
Tether strongly denies these allegations, calling the lawsuit a "baseless" attempt to shift blame for Celsius's own mismanagement. đ„ According to Tether, the two companies had a clear agreement where Celsius posted bitcoin as collateral for a $815 million USDT loan. đ€ When the price of $BTC dropped, Celsius failed to add more collateral, leading to the liquidation of the #Bitcoin . đŠđ©
Tether emphasizes its strong financial position, stating that even if the lawsuit were to succeed (which they doubt), it wouldn't impact Tether token holders. đȘ
This legal battle is shaping up to be a long and contentious one.
What do you think about this legal showdown?
Let us know your thoughts in the comments. DYOR! #Stablecoins #BTC
Tether is firing back at Celsius. đ„The bankrupt crypto lender has recently filed a lawsuit against the stablecoin issuer, claiming damages of around $2.4 billion. đ
Tether strongly denies these allegations, calling the lawsuit a "baseless" attempt to shift blame for Celsius's own mismanagement. đ„ According to Tether, the two companies had a clear agreement where Celsius posted bitcoin as collateral for a $815 million USDT loan. đ€ When the price of $BTC dropped, Celsius failed to add more collateral, leading to the liquidation of the #Bitcoin . đŠđ©
Tether emphasizes its strong financial position, stating that even if the lawsuit were to succeed (which they doubt), it wouldn't impact Tether token holders. đȘ
This legal battle is shaping up to be a long and contentious one.
What do you think about this legal showdown?
Let us know your thoughts in the comments. DYOR! #Stablecoins #BTC
