According to PANews, Tether announced on its official website that it will defend against the "extortion-type" lawsuit filed by Celsius. Tether said that Celsius Network Limited filed a lawsuit against Tether Limited and some of its affiliates in the United States Bankruptcy Court for the Southern District of New York through Blockchain Recovery Investment Consortium, LLC.
Tether pointed out that this lawsuit did not recognize the validity of the agreement reached several years before Celsius' bankruptcy, but instead attempted to impose the costs of Celsius' mismanagement and failure on Tether. Tether emphasized that it would not fall victim to shameless litigation for profit, and would resolutely refute the unfounded accusations and look forward to winning the case.
