On August 10, Tether announced in a post on its official website that it will defend against the "extortion" lawsuit launched by Celsius. Tether said that Celsius Network Limited filed a lawsuit against Tether Limited and certain affiliates in the US Bankruptcy Court for the Southern District of New York through the Blockchain Recovery Investment Consortium, LLC, but instead of recognizing the clear validity of the agreements reached in the years before Celsius went bankrupt, this lawsuit seeks to improperly impose the cost of Celsius' mismanagement and failure on Tether. Tether generation will never fall victim to shameless litigation for profit. Therefore, it will firmly refute the groundless accusations against it and look forward to winning this lawsuit.