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#Tether Sues Swan Bitcoin#

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Tether is suing financial services company Swan Bitcoin over a contract dispute regarding their 2022-formed bitcoin mining joint venture, 2040 Energy. Tether claims Swan breached the agreement, forcing Tether to take legal action to protect its investment. Swan has confirmed receipt of the lawsuit and said it will fight back vigorously. This lawsuit is the latest legal battle between the two after Swan sued former employees and contractors last September for allegedly stealing bitcoin mining operations.

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Tether is suing financial services firm Swan Bitcoin over a contract dispute regarding their 2022-formed bitcoin mining joint venture, 2040 Energy. In the lawsuit, Tether alleges significant breaches of the agreement by Swan, claiming Swan's conduct was reckless and led to material breaches of their agreement. Tether owns 80% of 2040 Energy and provided the financing, while Swan holds 20% of the equity, with profit sharing to occur after Tether recoups its full investment. Tether says it acted in good faith, supported their shared business objectives, and adhered to all relevant agreements, and was forced to take legal action to protect its investment. Swan confirmed receipt of the lawsuit and said it will fight it vigorously. The lawsuit escalates a legal dispute that began last September when Swan sued former employees and contractors for alleged theft of bitcoin mining operations.

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Tether accuses Swan Bitcoin of material contract breaches in a Bitcoin mining joint venture and has taken legal action to protect its investment.

Swan Bitcoin denies Tether's accusations and says it will vigorously defend against the lawsuit.

Tether owns 80% of the joint venture, 2040 Energy, and provided the financing, while Swan Bitcoin holds 20%.

The lawsuit escalates a legal battle that began in September when Swan Bitcoin sued former employees and contractors alleging they stole Bitcoin mining operations.