Bitcoin

Proton Management issued a formal response to Swan Bitcoin’s lawsuit, stating that the company did not conspire with the former employees of Swan to &#39;steal&#39; its mining business. Swan Bitcoin, filed a case against Proton stating that the latter had set its eyes on its firm - 2040 Energy.On Tuesday, Proton claimed that Swan does not actually own any mining operation. It further clarified that the entity was entirely funded by Tether and Swan holds a minor stake in the firm. Further, it stated that the mining activities that are mentioned in the lawsuit are those of 2040 Energy, which is allegedly owned and being improved by Proton.The conflict began when Swan Bitcoin alleged that Proton and six former employees, who had been with Swan till August 2023, sought to sabotage the company’s mining operation.According to Swan, the employees left to join Proton and continued to work on 2040 Energy’s mining operations, which Swan considered its own. In response, Proton&#39;s legal advisors claimed that Swan’s mismanagement of finances led to subsequent losses. It further resulted in layoffs and resignations. The employees resigned on their own accord and were rehired by Proton subsequently.Proton further added that Swan had only a minor position in the project and it was not hindered by Proton&#39;s conduct. It also mentioned that the value of the entity was growing by continuing to grow its mining <a href="https://cryptotale.org/vitalik-buterin-to-prioritize-stage-1-l2-projects-in-2025/" rel="noopener noreferrer nofollow">operations</a>. The response also stated that Proton has not used any of Swan’s proprietary information or trade secrets. It further claimed that any such data would belong to 2040 Energy, not Swan.<a href="https://cryptotale.org/swan-does-not-have-a-mining-business-of-its-own-proton/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Swan Does Not Have a Mining Business of Its Own: Proton

CryptoTale

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