#Tether Sues Swan Bitcoin#

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Tether is suing financial services firm Swan Bitcoin over a contract dispute related to their 2022-formed Bitcoin mining joint venture, 2040 Energy. Tether alleges Swan engaged in significant breaches of the agreement and has taken legal action to protect its 80% investment. Swan has confirmed receipt of the lawsuit and said it will "vigorously defend" itself. The lawsuit escalates a legal battle that began last September when Swan sued former employees and contractors for allegedly stealing Bitcoin mining operations.

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Tether is suing financial services firm Swan Bitcoin over a contract dispute regarding their 2022 joint venture for a bitcoin mining operation, 2040 Energy. Tether owns 80% of the joint venture and provided financing, while Swan holds 20% and profit sharing is only to occur after Tether recoups its full investment. Tether alleges that Swan has engaged in material breaches of the agreement and has taken legal action to protect its investment. Swan has confirmed receipt of the lawsuit and stated that it will vigorously defend its rights. This lawsuit escalates a legal battle that began last September when Swan sued former employees and contractors for allegedly stealing Bitcoin mining operations.

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Tether accuses Swan Bitcoin of material breaches of agreement, leading to losses for Tether's investment.

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Tether believes that Swan Bitcoin's actions were reckless and in violation of the parties' agreement, forcing Tether to take legal action to protect its investment.

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Swan Bitcoin confirms receipt of the lawsuit and states it will vigorously defend itself and all its rights.

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The lawsuit stems from a joint venture company, 2040 Energy, formed by the parties in 2022, in which Tether owns 80% and provides financing, while Swan holds 20%.

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