๐จTether Pushes Back Against Celsius's Lawsuit ๐$BTC $USDC $XRP ๐โคด๏ธ๐ช
Tether has fired back at Celsius's $2.4 billion lawsuit ๐ธ, labeling it a "baseless" attempt to deflect blame for Celsius's own financial mismanagement ๐คฆโโ๏ธ. Tether claims Celsius failed to provide additional collateral when Bitcoin's price plummeted ๐, triggering the liquidation of Celsius's Bitcoin collateral ๐.
Key Points:
- Tether denies any wrongdoing or breach of contract ๐ โโ๏ธ
- Celsius's financial woes stem from its own mismanagement, Tether asserts ๐ค
- Tether's CEO, Paolo Ardoino, calls the lawsuit a "shakedown" attempt ๐ซ
- Tether vows to vigorously defend itself against the allegations ๐ช
The lawsuit alleges Tether wrongfully liquidated Celsius's Bitcoin collateral, causing significant losses ๐ฑ. However, Tether maintains that Celsius's failure to meet its collateral obligations led to the liquidation ๐. The dispute highlights the complexities and risks in the cryptocurrency lending space ๐ค. As the legal battle unfolds, the outcome will have significant implications for the industry ๐.
