#Tether Sues Swan Bitcoin#

Tether is suing financial services company Swan Bitcoin over a contract dispute concerning their 2022-formed bitcoin mining joint venture, 2040 Energy. Tether alleges that Swan has engaged in material breaches of the 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. The lawsuit is an escalation of a legal dispute that began last September when Swan sued former employees and contractors alleging the theft of bitcoin mining operations. In a statement, Tether said it has acted in good faith throughout its partnership with Swan, supporting their shared business goals and adhering to all relevant agreements. Swan’s actions, Tether said, were reckless and resulted in their “material breach” of the agreement.