#Tether Sues Swan Bitcoin#

Tether is suing financial services firm Swan Bitcoin over a contract dispute regarding their 2022 Bitcoin mining joint venture, 2040 Energy. Tether owns 80% of the joint venture and provides financing, while Swan holds 20% and profit sharing is only after Tether recoups its entire investment. Tether alleges Swan has engaged in material breaches of the agreement and has taken legal action to protect its investment. Swan has confirmed receipt of the lawsuit and says it will vigorously defend itself. The lawsuit escalates a legal dispute that began last September when Swan sued former employees and contractors for alleged theft of Bitcoin mining operations. Tether claims it has always acted in good faith in its partnership with Swan, supporting their shared business goals and complying with all relevant agreements, while Swan's actions have been reckless and led to a serious breach of the agreement.