Stablecoin issuer Tether has agreed to pay $299.5 million to the Celsius Network bankruptcy estate, settling years of litigation tied to the crypto lender’s 2022 collapse. 

The payment is far below the nearly $4.5 billion Celsius originally sought in bitcoin.

The Blockchain Recovery Investment Consortium (BRIC) — a partnership between VanEck and GXD Labs — announced the settlement Tuesday, saying it settles “all issues” between Tether and the Celsius estate. 

“We are pleased to have resolved Celsius’s adversary proceeding and related claims against Tether,” said David Proman, managing partner at GXD Labs.

Tether and the Celsius collapse

The settlement…

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