Celsius $4B Bitcoin Lawsuit Against Tether Moves Forward

From Cointelegraph

July 02, 2025 4:07 am:

A US bankruptcy judge allows Celsius Network’s lawsuit against Tether to proceed. Celsius alleges Tether sold over 39,500 BTC in a “fire sale” during its collapse, breaching their lending agreement and causing $4 billion in losses. Despite Tether’s attempt to dismiss claims, the court allows key allegations of breach of contract and fraudulent transfer to move forward.

Tether CEO Paolo Ardoino dismisses IPO plans, stating the company has no intention of going public. Speculation suggested a potential Tether IPO could value the stablecoin giant at over $500 billion, surpassing companies like Costco and Coca-Cola. Ardoino believes Tether’s valuation may even undervalue the company, considering its significant Bitcoin and gold reserves.

Celsius exits bankruptcy after an 18-month restructuring process, now focused on repaying creditors. Tether, while expanding its Bitcoin footprint, becomes the majority owner of Twenty One Capital, one of the world’s largest corporate Bitcoin holders. Tether recently transferred nearly 37,230 BTC, worth about $3.9 billion, to addresses linked to the platform.

Read more at Cointelegraph: Celsius $4B Bitcoin Lawsuit Against Tether Moves Forward