**Swan Bitcoin Sues Ex-Employees Over Alleged Code Theft and Business Sabotage**

Swan Bitcoin has filed a lawsuit against former employees, accusing them of stealing proprietary software and launching a rival firm, Proton Management. The ex-staff allegedly persuaded Tether, a key funding partner, to sever ties with Swan and collaborate with Proton instead. Swan claims this move was designed to cripple its market position.

Key Points:

- Swan's lawsuit names Michael Holmes and Raphael Zagury as the masterminds behind the scheme.

- The alleged plan, dubbed "rain and hellfire," involved stealing confidential business information.

- Tether's role in the dispute remains unclear, as they have not commented.

Swan seeks a permanent injunction against Proton, the return of stolen materials, and a jury trial to determine damages.