Celsius Network, a now-defunct cryptocurrency lending platform, has initiated legal proceedings against Tether, the issuer of the stablecoin USDT. The case, filed in the Southern District of New York, revolves around Celsius's attempt to recover 39,542.42 Bitcoin (BTC), valued at approximately $2.31 billion. These Bitcoins were previously transferred as collateral for stablecoins borrowed from Tether.
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