In response to Swan Bitcoin’s latest lawsuit, bitcoin mining agency Proton Administration has claimed that Swan “does not have a mining business of its own,” successfully denying the legality of the swimsuit.
Final week, Swan Bitcoin filed a grievance within the Central District of California that Proton “hatched and executed a ‘rain and hellfire’ plan to steal Swan’s” mining enterprise. It accuses a number of of its former consultants of misappropriating Swan’s mental property to “copy” its operations at Proton.
Nonetheless, in a written response filed on Monday, Proton claims that Swan didn’t have a mining enterprise to repeat within the first place. “Rather, as Swan admits in its complaint and publicly, what Swan has called its mining business is really just a separate entity called 2040 Energy, which is fully funded by Tether.”
Learn extra: We requested Swan CEO about layoffs, withdrawal occasions, and the canceled IPO
Proton’s response continues to state that Swan solely holds a minority stake in 2040 Vitality, and that the accused consultants voluntarily left Swan due to poor administration, and simply occurred to go on to work for Proton.
“Swan has suffered no damage by Proton’s activities,” the response claims, and even states that the agency is “enhancing the value of [Swan’s] minority stake in 2040 Energy.”
Proton insists that no IP has been stolen and requests the case be dismissed, particularly as a result of the agency operates fully abroad.
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