NEW: Swan Bitcoin files in SDNY to subpoena Cantor Fitzgerald and its former CEO, Commerce Secretary Howard Lutnick, seeking discovery tied to a dispute with Tether over a joint mining venture.
The filing alleges a mid-2024 internal conspiracy led by ex-CIO Raphael Zagury with Tether-linked actors to gut Swan’s mining JV, 2040 Energy, including a coordinated mass resignation and data exfiltration.
Swan claims 13 employees resigned within hours on Aug 8, 2024, thousands of confidential files were taken, and Tether quickly replaced Swan with a new entity run by the defectors.
The subpoena targets Cantor and Lutnick over alleged proximity to events, including IPO discussions with Swan and subsequent ties to Tether-related deals after contact with Swan was abruptly cut.
The filing alleges a mid-2024 internal conspiracy led by ex-CIO Raphael Zagury with Tether-linked actors to gut Swan’s mining JV, 2040 Energy, including a coordinated mass resignation and data exfiltration.
Swan claims 13 employees resigned within hours on Aug 8, 2024, thousands of confidential files were taken, and Tether quickly replaced Swan with a new entity run by the defectors.
The subpoena targets Cantor and Lutnick over alleged proximity to events, including IPO discussions with Swan and subsequent ties to Tether-related deals after contact with Swan was abruptly cut.
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