Celsius Sues Tether

In recent weeks, bankrupt crypto lending company Celsius has launched several legal actions in an effort to recover billions of dollars for its creditors from various crypto firms, including the prominent Tether.

This includes three companies that have experienced financial losses and difficulties since 2020: Badger DAO, Compound, and Bancor, in which the niece and nephew of Israeli Prime Minister Benjamin Netanyahu are stakeholders.

The Tether lawsuit is part of a series of legal battles aimed at retrieving withdrawals and preferential payments made by Celsius in the crucial 90-day period leading up to its bankruptcy.

Meanwhile, the lawsuits against the other decentralized autonomous organizations (DAOs) are more general allegations of mismanagement resulting in losses.