Bitcoin24h $108,558.63+0.28%

Ethereum24h $2,532.63-0.56%

XRP24h $2.34+0.27%

BNB24h $670.08+1.11%

Solana24h $176.36-0.22%

Dogecoin24h $0.2258-2.03%

Cardano24h $0.7470-2.13%

TRON24h $0.2705-0.15%

Sui24h $3.61-1.12%

Hyperliquid24h $35.25+3.28%

Bitcoin mining firm Proton says Swan lawsuit ‘fatally flawed’

Swan Bitcoin claims Proton stole the IP of its bitcoin mining business, but Proton claims that Swan doesn’t even own a majority stake.

Swan Bitcoin lawsuit targets former executives, implicates Tether

A lawsuit filed by Swan Bitcoin against former executives alleges they stole the bitcoin mining operation with help from Tether.

After canceling its IPO and conference plans, plus a massive round of lay-offs, Swan has faced criticism from the Bitcoin community.

Bitcoin firm Swan plans to end its managed mining product and has delayed its IPO while laying off employees.

Swan Bitcoin CEO Cory Klippsten has promised more details on the company’s 2023 funding efforts but has not yet named the primary source.