Celsius vs. Tether: A High-Stakes Legal Battle Unfolds
Celsius is suing Tether for allegedly mishandling Bitcoin collateral, seeking around $3.5 billion. The lawsuit is contested by Tether, which claims Celsius directed the liquidation.
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Celsius is suing Tether for allegedly mishandling Bitcoin collateral, seeking around $3.5 billion. The lawsuit is contested by Tether, which claims Celsius directed the liquidation.
This article will take the incident in which Cambodia Huiwang Group had 29.62 million USDT frozen by Tether as an example to analyze and explain this.
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With a peso-backed stablecoin, Tether is essentially “recreating the foreign exchange market with a Tether product,” Ardoino said.
Tether has yet to issue a statement explaining exactly why it blacklisted the three addresses, but it has done so before to comply with law enforcement and to assist the exchange after a cyberattack.
Paolo Ardoino, chief technology officer, of Tether and Bitfinex, explains why USDT will retain its dominance in an increasingly competitive stablecoin market.