According to PANews, Tether has announced on its official website that it will defend itself against what it describes as an 'extortionate' lawsuit initiated by Celsius. Tether stated that Celsius Network Limited, through Blockchain Recovery Investment Consortium, LLC, has filed a lawsuit against Tether Limited and some of its affiliates in the U.S. Bankruptcy Court for the Southern District of New York. However, this lawsuit does not acknowledge the clear validity of agreements made years before Celsius's bankruptcy. Instead, it attempts to unfairly impose the costs of Celsius's mismanagement and failure onto Tether. Tether emphasized that it will not become a victim of baseless litigation for profit and is determined to refute the unfounded allegations against it, looking forward to prevailing in this lawsuit.