TechFlow, July 2 — According to Cointelegraph, a U.S. judge has rejected Tether's partial motion to dismiss, allowing Celsius Network's multibillion-dollar lawsuit against Tether to proceed. Celsius alleges that in June 2022, Tether improperly liquidated approximately 39,500 bitcoins of its collateral, violating procedures stipulated in their loan agreement, resulting in losses exceeding $4 billion for Celsius.
Despite Tether's argument that U.S. courts lack jurisdiction, the judge ruled that Celsius's claims of breach of contract, fraudulent transfer, and priority rights may proceed to trial.
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