#Tether sues Swan Bitcoin#
Hot Topic Overview
Overview
Tether is suing financial services firm Swan Bitcoin over a contract dispute involving their 2022 joint venture for Bitcoin mining, 2040 Energy. Tether alleges Swan has engaged in material 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 defend itself vigorously. The lawsuit escalates a legal battle that began last September when Swan sued former employees and contractors for allegedly stealing Bitcoin mining operations.
Ace Hot Topic Analysis
Analysis
Tether is suing financial services company Swan Bitcoin over a contract dispute regarding their 2022 Bitcoin mining joint venture, 2040 Energy. Tether owns 80% of the joint venture and provided financing, while Swan holds 20% and profit sharing is to occur after Tether recoups its full investment. Tether alleges that Swan has engaged in significant breaches of the agreement, claiming Swan’s actions were reckless, resulting in a material breach of the agreement, forcing Tether to take legal action to protect its investment. Swan confirmed receipt of the lawsuit and stated it will vigorously defend its rights. The lawsuit escalates the legal dispute that began last September when Swan sued former employees and contractors for allegedly stealing its Bitcoin mining operations.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Tether accuses Swan Bitcoin of breaching the agreement for their 2022 joint venture, 2040 Energy, resulting in losses for Tether's investment.
Tether considers Swan's actions reckless and has taken legal action to protect its investment.
Swan Bitcoin denies Tether's accusations and states it will vigorously defend against the lawsuit.
This lawsuit is an escalation of a legal dispute that began in September when Swan Bitcoin sued former employees and contractors for allegedly stealing Bitcoin mining operations.