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Celsius is permitted to continue its $4 billion BTC claim lawsuit against Tether.
On July 2, according to Judge Martin Glenn's order on June 30, the U.S. bankruptcy court ruled that Celsius Network may continue to file multiple claims in the lawsuit against the stablecoin issuer Tether.
According to the documents, the court allows Celsius to continue pursuing allegations that Tether unfairly liquidated tens of thousands of Bitcoin by accepting priority transfers in the weeks leading up to Celsius's collapse in 2022, in violation of U.S. bankruptcy law. At the heart of the case are over 57,000 BTC, which Celsius claims were either wrongfully seized, prematurely liquidated, or transferred in a manner that exceeded the agreed terms. The company argues that if these assets were retained, their current value would exceed $4 billion.