In the US, a bankruptcy court ruled that Celsius Network, a digital asset company, against Tether, Stablecoin, has ruled that the case against Tether. The case is based on the grounds that 39,500 BTC collateral was quickly and irregularly liquid during Celsius’ financial collapse in 2022. Allegedly, the transaction was worth approximately 812 million US dollars.
Background of events
In 2022, the crypto markets experienced major fluctuations, while Celsius Network entered a compelling period due to calls for collateral and falling prices. In this process, Celsius, Tether’s Bitcoin $107,778.07 He rapidly disputes his guarantee and argues that he violates both the conditions of the agreement and the rules of goodwill. Tether’s sale was made at an average of $ 20,656.
Celsius claims that Tether liquid the guarantee nine hours before his term is full of 10 hours of time recognized for margin calls contrary to the agreement reached. It is stated that this causes the company to suffer billions of dollars. It is also claimed that the revenues obtained are transferred to Tether’s Bitfinex accounts.
Mutual explanations of the parties
Tether argued that the case process was unfounded and that the real problem was due to Celsius’s lack of sufficient collateral. The company stated that the US courts were unauthorized in this case and demanded that the case be reduced. Tether’s statement showed that the transactions were realized abroad.
“When Celsius chose not to deposit additional collateral, Celsius directed Tether to liquid his BTC collateral and close the position of approximately 815 million USD.”
“While the validity of the agreement made months ago is clear, this case is trying to upload Celsius’ invoice of management errors to Tether.”
Tether also moved his headquarters to El Salvador in January 2025. This step has led to comments that the company has been thrown in order to highlight the international status of the company and to argue that it is not subject to legal processes in the USA. However, the court concluded that it had authority due to assets in the US territory.
The future of the case and market effects
With the final decision of the court, Celsius’ demands against Tether will now be detailed. In the US case, the parties will violate the provisions of the agreement, the relevant legal arrangements and the suitability of collateral transactions will be investigated. This development may be a precedent for relations and collateral management between large -scale companies in the crypto sector.
The rapidly changing nature of crypto currencies and high -volume transactions between large companies lead to a live discussion of regulatory and legal risks in the sector. Particularly in secured transactions and disagreements in liquidation processes are carefully monitored for investors.
In similar cases, the parties argue different arguments in the headings such as the implementation of the existing agreement conditions and the debates on the authority within the global legal system. In such cases, it remains unclear to the extent to which the company center moves to different countries.
In the following period, the court decision is expected to be decisive on both Celsius and Tether’s financial obligations and policies of other actors in the sector. The process in which the arguments of all parties will be meticulously examined may be guiding in terms of similar disputes.
The US Court’s decision to maintain the Celsius and Tether case brought important legal debates on the global crypto market. The provisions of the collateral agreement between the two major companies, the duration of margin calls and liquidation conditions will be discussed in detail by the court. The case process is expected to provide guiding information in the regulation of financial transactions throughout the sector and in the approach to inter -platform agreements.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
