Celsius is authorized to continue its $4 billion lawsuit against Tether.

Gate News bot news, Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern District of New York recently ruled to allow the bankrupt crypto lending platform Celsius to continue its $4 billion lawsuit against stablecoin issuer Tether. According to Decrypt, the lawsuit stems from Tether liquidating 39,500 Bitcoins that Celsius had pledged as collateral for loans in 2022. Celsius pointed out in the lawsuit that Tether did not adhere to the 10-hour waiting period stipulated in the contract before proceeding with the liquidation, as Tether's aim at the time was to recover a $812 million debt.

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