Swan Bitcoin Accuses Ex-Employees of Stealing Its Mining Business Under Tether’s Influence#swan

Swan Bitcoin, a popular Bitcoin-focused investment platform, has made serious allegations against several former employees, claiming they "stole" the company’s mining business. According to Swan, these ex-employees acted under the direction of Tether, the stablecoin giant, in an effort to misappropriate its mining division.

The accusations suggest that these individuals left Swan Bitcoin to form a new venture, allegedly backed by Tether, using Swan’s proprietary resources and business strategies without permission. The dispute highlights growing tensions in the Bitcoin mining industry, where competition is fierce, and control over key infrastructure and relationships can be highly lucrative.

Neither Tether nor the accused former employees have issued detailed public responses to the claims. The case underscores the increasing rivalry between firms in the crypto space, particularly in sectors like Bitcoin mining, where profit margins and market share are hotly contested. As the legal battle unfolds, it could have broader implications for partnerships and business ethics within the crypto ecosystem.

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🇺🇸#Bitcoin -only exchange Swan partners with Tether to dramatically increase mining output.

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SwanChain was launched in 2021 and is the first AI superchain for decentralized AI computing. It utilizes OP superchain technology to innovatively combine Web3 with AI, providing a comprehensive solution covering storage, computing, bandwidth, and payments.

Investors: Binance Labs, (including Filecoin officially invested in 2021, Binance invested in Chainlink in 2022) SNZ Holding, Waterdrip Capital, FBG Capital, Protocol Labs, LD Capital, Chain Capital, Cabin VC, BetterverseDao, Criterion VC, w3coins, Unicorn Hunter Ventures, DAO Kondr VC