Tether, the stablecoin issuer, has deposited around $1 billion into the UK subsidiary of Britannia Financial Group, according to court documents cited by the Financial Times. This comes amidst an ongoing legal battle between Britannia and Arbitral International. Arbitral filed a lawsuit against Britannia, accusing the bank of failing to fulfill payment obligations for a brokerage it acquired. The lawsuit claims that Britannia did not make the necessary payment related to the $1 billion Tether deposit, which occurred within a year of acquiring the brokerage. However, Britannia denies this claim, stating that the deposit was made to its London-based subsidiary, separate from the brokerage. There are conflicting narratives regarding the origin of the Tether deposit, with Britannia attributing it to a professional introducer and Arbitral claiming involvement from its former brokerage executive. Tether, the world’s largest stablecoin, has yet to comment on the matter. The company has faced scrutiny over its financial management practices and has pledged to enhance transparency in the future.

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Information	Details
Geography	Europe
Countries	🇧🇸
Sentiment	neutral
Relevance Score	1
People	Aldo Mazella, Paolo Ardoino
Companies	Britannia Financial Group, Aldo Mazella, Arbitral International, Tether
Currencies	Unidef, Tether
Securities	None