Former Swan Bitcoin Employees Persuade Tether to Cut Ties and Collaborate with Them

Swan Bitcoin has filed a lawsuit against former employees who allegedly persuaded Tether to sever connections with Swan and collaborate with them instead. This move is part of allegations involving the theft of software code and trade secrets.
According to court documents, the ex-employees founded a competing firm, Proton Management, and poached key partners, including stablecoin issuer Tether. This caused significant damage to Swan Bitcoin’s business and jeopardized its market position.
Swan Bitcoin seeks a court injunction and the return of stolen materials, claiming that the former employees’ actions were deliberate and caused irreparable harm to the company.