Executives at former Tether-backed German tech company Northern Data have sued the company, claiming they were unfairly dismissed after raising concerns about the company's financial health and alleging tax evasion. 😱

Northern Data is Europe's largest Bitcoin miner. The company also operates data centers used for artificial intelligence. 🤖

The California lawsuit alleges that Northern Data lied to investors about the strength of its finances and was in “borderline bankruptcy,” as well as “knowingly engaged in tax evasion of tens of millions of dollars.” 🤯

These allegations come as Northern Data is considering a US initial public offering (IPO) of its artificial intelligence unit, which Bloomberg reported was valued at up to $16 billion. 🚀

I'm waiting for your comments, what do you think? What do you think about Northern Data's situation? How should such situations be handled in the world of DeFi and Web 3.0? 🤔#DeFi#Web3 #NorthernData