COINDESK DAILY: Celsius Filed for Tether to Relinquish $3.3B of Bitcoin; Ripple Began Stablecoin Testing
Aug 12, 2024
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Tigran Gambaryan, a figure linked to Binance, joins the discussion as Celsius pushes for Tether to return $3.3 billion in Bitcoin amid its bankruptcy woes. Gambaryan's family claims he is facing legal hurdles, including denied access to lawyers. The podcast also delves into Ripple's stablecoin testing on Ethereum and XRP Ledger, shedding light on key developments in the crypto landscape. Tune in for insights on these pressing issues shaking up the industry!
Celsius filed a lawsuit against Tether for over 57,000 Bitcoin due to alleged fraudulent transfers amid their bankruptcy crisis.
Ripple is testing a new stablecoin on both the Ethereum and XRP Ledger platforms, indicating growth and innovation within the crypto space.
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Celsius vs. Tether Legal Battle
Celsius has initiated legal action against Tether, seeking over 57,000 Bitcoin, due to allegations surrounding a loan agreement that permitted Celsius to borrow stablecoins for its operations. The lawsuit claims that Tether executed fraudulent transfers of Bitcoin to protect itself from Celsius's impending bankruptcy amid the 2022 cryptocurrency market crash. Tether's CEO has labeled the lawsuit as baseless and is prepared to contest the allegations vigorously. This high-profile case highlights tensions within the cryptocurrency space as firms navigate the legal ramifications of their financial agreements.
Host Jennifer Sanasie breaks down the news in the crypto industry from Tether's response to Celsius' $3.3 billion litigation to Ripple's stablecoin testing.
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"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines in the crypto industry today, as bankrupt crypto lender Celsius asked a U.S. court to order stablecoin issuer Tether to relinquish more than 57,000 bitcoin. Plus, Tigran Gambaryan's family alleges that the Binance executive is being denied adequate access to his lawyers, and Ripple's new stablecoin is being tested on Ethereum and XRP Ledger.
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This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and Melissa Montañez and edited by Victor Chen.