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.
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With a peso-backed stablecoin, Tether is essentially “recreating the foreign exchange market with a Tether product,” Ardoino said.
Through a peso-backed stablecoin, Tether is basically “recreating forex markets with Tether products,” 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.