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Tether Settles $299.5M with Celsius Bankruptcy Estate in Landmark Resolution

Tether Settles $299.5M with Celsius Bankruptcy Estate in Landmark Resolution

Author:

Global Cryptocurrency

Published:

2025-10-14 21:52:02

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BTCCSquare news:

Tether has agreed to pay $299.5 million to the Celsius Network bankruptcy estate, resolving a contentious lawsuit over crypto collateral liquidations preceding Celsius's 2022 collapse. The settlement, orchestrated by the Blockchain Recovery Investment Consortium (BRIC) with VanEck's backing, marks one of the largest recoveries for Celsius creditors.

The dispute centered on alleged preferential transfers by Tether, which liquidated margin loan collateral in the weeks before Celsius's insolvency. Court filings claimed these actions violated U.S. bankruptcy rules, potentially disadvantaging other creditors. With this agreement, a major outstanding claim in the Celsius bankruptcy proceedings is now closed.

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