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Proton Management Says Swan Bitcoin ‘Does Not Have Mining Business of Its Own’

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Response to Swan’s lawsuit says that the mining company at the center of the controversy was only minority-owned by the company, and not a full-fledged subsidiary.

Proton Management argues that Swan Bitcoin never owned the mining business in question, as it was part of 2040 Energy, a separate entity funded by Tether in which Swan holds only a minority stake.Celsius Filed for Tether to Relinquish $3.3B of Bitcoin; Ripple Began Stablecoin Testing

Tether is not a named defendant in the suit, and spokesperson for the company has denied any and all implications of wrongdoing in prior comments to CoinDesk.

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