Celsius vs. Tether: A $4.3B Bitcoin Battle Heads to Court
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The legal war between failed crypto lender Celsius and stablecoin giant Tether is heating up—and a New York judge just handed Celsius a major win.
Bankruptcy Judge Martin Glenn ruled that Celsius can move forward with its $4.3 billion lawsuit, accusing Tether of illegally dumping 39,542 Bitcoin (now worth billions) in a “fire sale” before a critical 10-hour window expired.
Tether claimed ex-Celsius CEO Alex Mashinsky gave verbal approval, but the judge shot that down, calling it “insufficient.” Now, Tether—which previously called the case a “baseless money grab”—must face claims it breached their deal.
This high-stakes fight could redefine how crypto collateral is handled—and who pays for Celsius’ catastrophic collapse.
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