TechFlow news — On July 5, according to the Financial Times, two former executives of bitcoin miner Northern Data said they were fired after reporting suspected fraud involving the company's CEO and COO. In a lawsuit filed in the U.S. District Court for the Central District of California, the two claimed that Northern Data engaged in financial misrepresentation and tax evasion, with amounts possibly reaching tens of millions of dollars. Tether, the stablecoin issuer, owns 51% of Northern Data and last year agreed to a strategic investment involving Nvidia GPUs in exchange for equity and shareholder loans. The former directors' allegations predate Tether’s involvement.
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