Judge greenlights Celsius’s 4 billion USD showdown with Tether

A US bankruptcy judge has ruled that Celsius Network’s lawsuit against Tether concerning a 4 billion USD Bitcoin liquidation can proceed. Celsius alleges Tether acted improperly by selling Bitcoin collateral before the required waiting period.

Tether previously sought to dismiss the case, citing lack of jurisdiction. However, the judge found sufficient US connections in Celsius’s allegations to maintain jurisdiction, allowing critical claims to go forward.