#Tether Sues Swan Bitcoin#
Hot Topic Overview
Overview
Tether is suing financial services firm Swan Bitcoin over a contract dispute regarding their 2022-formed Bitcoin mining joint venture, 2040 Energy. Tether alleges Swan has engaged in significant breaches of the agreement and has taken legal action to protect its investment. Swan confirmed receiving the lawsuit and stated it will defend itself vigorously. The lawsuit escalates a legal battle that began in September 2022 when Swan sued former employees and contractors for allegedly stealing Bitcoin mining operations. Tether holds an 80% stake in the joint venture and provided financing, while Swan owns 20% and profit sharing is to occur after Tether recoups its entire investment.
Ace Hot Topic Analysis
Analysis
Tether is suing financial services company Swan Bitcoin over a contractual dispute involving their 2022-founded Bitcoin mining joint venture, 2040 Energy. Tether owns 80% of the joint venture and provided funding, while Swan holds a 20% stake. Tether alleges that Swan committed significant breaches of the agreement, claiming Swan's actions led to material breaches of the deal. Tether believes Swan's actions were reckless and has been forced to take legal action to protect its investment. Swan acknowledged receipt of the lawsuit but declined further comment, stating it will vigorously defend 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 alleges Swan Bitcoin's reckless conduct led to a serious breach of agreement, forcing it to take legal action to protect its investment.
Swan Bitcoin confirms receipt of the lawsuit and states it will vigorously defend itself.
The lawsuit escalates a legal dispute that began last September when Swan Bitcoin sued former employees and contractors for allegedly stealing Bitcoin mining operations.