Swan Bitcoin Claims Ex-Employees ‘Stole’ its Mining Business at Tether’s Direction
With the tacit blessing of Tether, as well as an alleged agreement to provide “legal cover” for the coup, Swan claims, in mid-July Zagary began to “sow dissent and chaos at Swan, undermine Klippsten, and influence Swan’s consultants and employees to leave Swan”. The $25 million funding commitment from Tether, it became apparent, would no longer be coming.
This unexpected turn of events had a significant impact on Swan’s operations and stability. The withdrawal of the funding commitment left Swan in a vulnerable position, forcing the company to reevaluate its financial strategy and future prospects. Without the support of Tether, Swan faced challenges in maintaining its current operations and retaining key personnel.
Despite the difficulties caused by Tether’s withdrawal, Swan remained resilient and focused on finding alternative sources of funding. The company implemented cost-cutting measures and explored new partnerships to secure its financial stability. While the road ahead may be challenging, Swan is determined to overcome this setback and emerge stronger than ever.
In conclusion, Tether’s decision to withdraw its funding commitment had a significant impact on Swan, but the company is determined to navigate through this challenging period. By adapting to the changing circumstances and exploring new opportunities, Swan is confident in its ability to overcome this obstacle and thrive in the future.
