New York bankruptcy court approves Celsius's $4.3 billion lawsuit against Tether

Odaily News According to court documents, a New York bankruptcy judge allowed Celsius to continue to file most of its $4.3 billion lawsuit against stablecoin issuer Tether. Celsius accused Tether of liquidating nearly 40,000 BTC without adequate notice in June 2022 before it was on the verge of bankruptcy, violating the contractual obligation to cover margin calls. Tether responded that the lawsuit was "baseless" and accused Celsius executives of verbally approving the action. The judge believed that the "verbal permission" was not sufficient to replace the contractual agreement. (CoinDesk)