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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 joint venture, 2040 Energy, a Bitcoin mining operation. Tether alleges Swan has engaged in "material breaches" of their agreement and has taken legal action to protect its 80% investment. Swan has confirmed receipt of the lawsuit and said it will "vigorously defend" itself. This lawsuit is the latest legal dispute between the two companies after Swan sued former employees and contractors last September for allegedly stealing Bitcoin mining assets.

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Tether is suing financial services firm Swan Bitcoin over a contract dispute related to their 2022 bitcoin mining joint venture, 2040 Energy. Tether claims Swan violated the agreement, resulting in losses to its investment, and has taken legal action to protect its interests. Tether holds an 80% stake in the joint venture and provided the financing, while Swan owns 20% and profit sharing is to occur after Tether recoups its full investment. Swan has acknowledged receiving the lawsuit and stated it will vigorously defend its rights. This lawsuit is the latest legal dispute between the two entities, following Swan's September 2022 lawsuit against former employees and contractors for alleged theft of bitcoin mining operations.

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Tether has accused Swan Bitcoin of material breaches of agreements in their Bitcoin mining joint venture, alleging that Tether's investment was damaged.

Tether argues that Swan Bitcoin's actions were reckless and in violation of the agreement between the two parties, forcing them to take legal action to protect their investment.

Swan Bitcoin confirmed receipt of the lawsuit and stated that they will vigorously defend themselves and their rights.

The lawsuit escalates the legal battle that began last September when Swan Bitcoin sued former employees and contractors for allegedly stealing Bitcoin mining operations.