KEY POINTS
- Celsius aims to recover some $2.4 billion in Bitcoins it transferred to Tether as collateral for a loan during its bankruptcy proceedings
- Tether said the lawsuit was "baseless" and its CEO said the case should be an example that money-grab cases won't work
- Some X users believe Tether's fall has begun, given the recent questions about its business practices
- Others said Celsius was a "Ponzi" scheme and the case is a matter of "sharks eating themselves"
In the cryptocurrency realm where lawsuits are a norm, defunct cryptocurrency exchange Celsius has taken stablecoin titan Tether to court, alleging misappropriation by the company behind the world's largest stablecoin, $USDT.
