CandleFocus Proton Management Says Swan Bitcoin ‘Does Not Have Mining Business of Its Own’
2024-10-01
Author: Content Editor
In a court filing, Proton Management has refuted Swan Bitcoin's claim that Proton and its former employees conspired to steal Swan's mining business. Proton argues that Swan does not own a mining business of its own, but rather holds a minority stake in the separate entity called 2040 Energy, which is funded by Tether. Proton maintains that it is enhancing the value of 2040 Energy and not harming Swan. It also denies using any proprietary information or trade secrets from Swan and argues that if such information exists, it may actually belong to 2040 Energy. Additionally, Proton is seeking the dismissal of the case, claiming that it has not been properly served and that the California court has no jurisdiction over the British Virgin Islands-based company.
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