“Throughout our relationship with Swan, Tether has consistently acted in good faith, supported mutual business objectives, and adhered to all relevant agreements,” Tether claimed. “Conversely, Swan has acted recklessly and their actions have resulted in significant breaches by them of the agreements between us. Consequently, we have been compelled to take necessary measures to protect our investment.”

Replies (44)

Jimbo Galtomoto's avatar
Jimbo Galtomoto 11 months ago
Normies don’t know what they’re missing. Bitcoin has everything to keep you both nourished and entertained 🤣
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Satsdaddy 11 months ago
I've used Swan for a while, but I could never get myself to recommend it to other people. I didn't really know why, but the more stuff that comes out the more I see why.
Bangarangg's avatar
Bangarangg 11 months ago
imagine the caliber of lawyers tether has
Swan is already in bankruptcies and @strike will gonna follow the same case! Strike is still alive as long as there is bail outs to Jack! It will not last for long !
Stablecoin giant Tether is suing financial services firm Swan Bitcoin over a contract dispute related to the companies’ bitcoin mining joint venture, Blockspace has learned. “Tether, together with its co-Claimant, 2040 Energy Limited, has recently commenced proceedings in the High Court of England and Wales against Swan,” a Tether spokesperson wrote in an email to Blockspace. “Throughout our relationship with Swan, Tether has consistently acted in good faith, supported mutual business objectives, and adhered to all relevant agreements,” Tether claimed. “Conversely, Swan has acted recklessly and their actions have resulted in significant breaches by them of the agreements between us. Consequently, we have been compelled to take necessary measures to protect our investment.” When reached by Blockspace, Swan confirmed receipt of the lawsuit but declined further comment. “Swan will vigorously defend all its rights,” the spokesperson added. The lawsuit escalates a legal struggle that began when Swan Bitcoin sued its former mining employees and contractors last September. Read more: Swan Bitcoin sues former employees, alleges theft of bitcoin mining business Swan’s suit alleges that the defendants broke their contracts and stole proprietary business information when they left the company to start Proton Management, the firm that now manages the bitcoin mining assets in concert with Tether. The September suit did not name Tether or its employees as defendants, and the new suit filed in the United Kingdom is the first time the company has entered the legal arena with Swan over this issue. The cross-jurisdictional dispute centers on the bitcoin mining joint venture 2040 Energy, which Swan Bitcoin established with Tether in 2022. According to a 2024 Swan investor deck seen by Blockspace, Tether financed the venture and owns 80% of 2040 Energy to Swan’s 20%, and Swan could only collect profit from the venture once the business line had returned 100% of invested capital to Tether. Swan’s investor presentation and court documents from its lawsuit with Proton Management employees raise questions regarding Swan’s legal claim to the bitcoin mining business. Swan framed the walkout as a corporate coup, branding it a conspiracy orchestrated by key internal personnel.
Shitcoin exchanges will push them out of the market! Strike can’t survive on fees! They already folded to tether usdt to survive! Now I’m just watching what will make jack to fold next to save the company 🍿
Mallers family were onboarded by Andreas who became total shitcoiner! And Jack’s family also loves shitcoins! You just haven’t been into this space for a long time !
LOL On a side note, I think Max Keiser was working the tiny Swan booth at Nashville, now Tether moving to El Salvador. Did Max and Cory break up?
Corrado Alvaro's avatar
Corrado Alvaro 11 months ago
If only someone had sounded any kind of warning bell… 🫣
🤣🙌🤡🦆🌈🫡😈🙄🔥🤖⚡️‼️ They will continue to eat one another alive and I’m here for it.
bitcoin.truth 's avatar
bitcoin.truth 11 months ago
adding usdt in Argentina, Brazil, El Salvador, India, Kenya, Mexico, Nigeria, Togo, and Vietnam account is a betrayal? its functionally no different than USD for americans. whether strike fails or not, idk. i think their lending product will be interesting when it drops. but to insist that strike will go bankrupt because they might not be profitable now, and that jack is destined to shitcoin because of Andreas — is interesting logic.