Celsius $4 Billion Bitcoin Transfer Suit Against Tether Survives

Celsius Network survived a dismissal attempt of most of its clawback efforts—potentially worth at least $4 billion—against leading stablecoin issuer Tether Ltd., after a bankruptcy judge found the onetime crypto lender’s transfer claims sufficient.

Some claims made by New Jersey-based Celsius Network LLC and London-based Celsius Network Ltd. have disputed facts that need to be addressed at trial, Judge Martin Glenn said in a Monday opinion in the US Bankruptcy Court for the Southern District of New York. One claim was dismissed, while the rest remain.

When Celsius sued in August 2024, nearly 40,000 Bitcoin was allegedly used improperly as ...