Gate News reports that on March 26, Bitcoin financial services company Swan Bitcoin filed an ex parte application in the Southern District of New York Federal Court this Monday, seeking subpoenas for Cantor Fitzgerald and its former CEO Howard Lutnick to obtain key documents related to its failed mining joint venture. Swan Bitcoin sued several former employees in September 2024, accusing them of stealing confidential files and collectively leaving to establish a competing company, Proton Management, and allegedly convincing Tether to terminate its partnership with Swan in favor of supporting the new company. Swan claims this plan was internally called the “Rain and Hellfire” project, primarily orchestrated by former Business Development Head Michael Holmes and former Chief Investment Officer Raphael Zagury. Swan believes that Cantor Fitzgerald, as Tether’s investment banking advisor, may hold critical documents regarding the sale of Swan’s mining joint venture, 2040 Energy, assets at a low price to a Tether subsidiary.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
MicroStrategy Resumes Bitcoin Purchases Next Week After Pause This Week
According to Michael Saylor, MicroStrategy did not purchase Bitcoin this week and will resume buying next week.
GateNews1h ago
AIMCo Returns to Saylor Bitcoin Treasury Investment With $69M Gain
Canadian pension giant AIMCo has returned to an investment in Michael Saylor's bitcoin treasury company after previously exiting the position, according to the report. The firm is now sitting on a $69 million unrealized gain from this investment.
The exact timing of AIMCo's return to the investment
CryptoFrontier1h ago
Cash App Launches Bitcoin Proof-of-Reserves for 60M Users with 1:1 Backing
According to ChainCatcher, Cash App launched a Bitcoin proof-of-reserves feature this week, verifying that all Bitcoin holdings on the platform are backed 1:1 for over 60 million users.
GateNews1h ago
Hyperliquid Launches Outcome Markets on Mainnet with Daily BTC Settlement on May 3
According to Odaily, Hyperliquid launched Outcome Markets (HIP-4) on mainnet today in a feature-limited initial version. Outcome Markets is a fully-collateralized contract that settles within fixed ranges, designed for prediction markets and range options without leverage or liquidation
GateNews3h ago
Paradigm Researcher Proposes PACTs to Protect Bitcoin From Quantum Threats
A Paradigm researcher has outlined a new model designed to protect dormant bitcoins, including those potentially belonging to Bitcoin's creator Satoshi Nakamoto, from future quantum computing threats. Dan Robinson introduced "Provable Address-Control Timestamps" (PACTs), a proposal that would allow
CryptoFrontier3h ago
If BTC Breaks $74,973, Major CEX Long Liquidations Could Hit $784M: Coinglass
According to Coinglass data cited by ChainCatcher, if BTC breaks below $74,973, major CEX cumulative long liquidations would reach $784 million. Conversely, if BTC breaks above $82,263, major CEX cumulative short liquidations would reach $765 million.
GateNews3h ago
