In a major development, Celsius Network has reached a settlement with Tether for $299.5 million, resolving their year-long legal battle regarding Bitcoin liquidations that significantly impacted the cryptocurrency company’s bankruptcy proceedings. This settlement follows a dispute over claims of improper handling of Bitcoin assets during Celsius’s 2022 filing for Chapter 11 bankruptcy. The Blockchain Recovery Investment Consortium, representing Celsius creditors, successfully navigated this complex legal battle with Tether’s CEO Paolo Ardoino expressing satisfaction at the resolution. This agreement brings about a substantial reduction in claims against Tether and could potentially impact creditor recoveries in the ongoing bankruptcy case of Celsius.