PANews reported on August 10 that Tether announced on its official website that it would defend against the "extortion-like" lawsuit filed by Celsius. Tether stated that Celsius Network Limited filed a lawsuit against Tether Limited and certain of its affiliates in the United States Bankruptcy Court for the Southern District of New York through Blockchain Recovery Investment Consortium, LLC, but this lawsuit not only failed to recognize the clear validity of the agreement reached by Celsius several years before its bankruptcy, but also attempted to improperly impose the costs of Celsius' mismanagement and failure on Tether. Tether will never fall victim to shameless litigation for profit, so it will resolutely refute the unwarranted accusations against it and look forward to winning this lawsuit.
