COINDESK DAILY: Celsius Filed for Tether to Relinquish $3.3B of Bitcoin; Ripple Began Stablecoin Testing
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 12 August 2024
⏱️ 3 minutes
🧾️ Download transcript
Summary
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.
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Transcript
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| 0:50.0 | Celsius asked Tether to relinquish $3.3 billion worth of Bitcoin, and Ripple began testing for |
| 0:56.0 | stablecoin. This is Coin Desk Daily. I'm your host, Jensenassi. |
| 1:05.4 | On Friday, Celsius asked a U.S. court to order Stablecoin issuer Tether to relinquish |
| 1:10.2 | more than 57,000 Bitcoin |
| 1:12.4 | in response. Tether said it will defend itself against what it called a shakedown litigation |
| 1:17.5 | brought by the bankrupt crypto lender. According to the lawsuit, the case concerns a loan agreement |
| 1:22.4 | between Celsius and Tether that allowed Celsius to borrow stable coins to operate certain critical aspects of its |
| 1:29.2 | business. Celsius alleges that prior to their bankruptcy filing during the 2022 market crash, |
| 1:34.9 | Tether insulated itself from the impending bankruptcy by making preferential and fraudulent transfers of |
| 1:40.5 | Bitcoin. Tether CEO Paulo Arduino took to X. He said the lawsuit is baseless and said that |
| 1:46.5 | it's one that will be fought until the end. Tegren Gambarion, the Binance executive held in |
| 1:52.3 | Nigeria is being, quote, denied adequate access to his legal team and his health is deteriorating |
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