#Tether Sues Swan Bitcoin#
Hot Topic Overview
Overview
Tether is suing financial services firm Swan Bitcoin over a contract dispute related to their 2022 joint venture, 2040 Energy, a Bitcoin mining company. Tether owns 80% of the joint venture and provided funding, while Swan owns 20%. Tether alleges that Swan has committed material breaches of the agreement and has taken legal action to protect its investment. Swan confirmed receipt of the lawsuit and said it will vigorously defend itself. This lawsuit is the latest legal dispute between the two parties, following Swan's lawsuit against former employees and contractors last September for allegedly stealing Bitcoin mining operations.
Ace Hot Topic Analysis
Analysis
Tether has sued financial services company Swan Bitcoin over a dispute involving a joint venture in Bitcoin mining. The joint venture, 2040 Energy, was established in 2022. Tether owns 80% of the company and provided financing, while Swan owns 20%. Profit sharing was to occur after Tether recouped its entire investment. Tether alleges that Swan has engaged in material breaches of the agreement, including reckless conduct resulting in serious violations of the agreement, leading Tether to take legal action to protect its investment. Swan has confirmed receiving the lawsuit and stated it will vigorously defend itself and its rights. This lawsuit escalates the legal battle that began last September when Swan sued former employees and contractors for allegedly stealing Bitcoin mining operations.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Tether accuses Swan Bitcoin of material breach of agreement in bitcoin mining joint venture.
Tether believes Swan Bitcoin's actions were reckless and resulted in a material breach of the agreement, forcing it to take legal action to protect its investment.
Swan Bitcoin confirmed receipt of the lawsuit and said it will vigorously defend itself.
The lawsuit escalates a legal dispute that began in September when Swan Bitcoin sued former employees and contractors for allegedly stealing bitcoin mining operations.