Coinbase Buys Liquifi, Tether Faces $4B Celsius Lawsuit

Coinbase made a strategic move to simplify token launches, while Tether faced mounting legal pressure over a massive Bitcoin liquidation.

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Why Coinbase Acquired Liquifi: Simplifying Token Launches and Compliance Celsius Lawsuit Against Tether: Inside the $4 Billion Bitcoin Battle

Why Coinbase Acquired Liquifi: Simplifying Token Launches and Compliance

coinbase-acquires-liquifi-the-leading-token-management-platform — Source: X

Coinbase has announced its fourth acquisition of 2025: token management platform Liquifi. While not as headline-grabbing as its $2.9 billion Deribit purchase earlier this year, this deal targets a critical pain point for Web3 builders — the messy, often slow process of launching a token.

Liquifi helps with cap table management, vesting schedules, and compliance tools. These are essential for any crypto project preparing to issue a token, yet they’re usually spread across different systems and legal providers.

By bringing Liquifi under its wing, Coinbase plans to offer all-in-one solutions to developers before their tokens are even launched. The integration into Coinbase Prime, its institutional platform, signals the company’s intent to expand beyond trading and custody into pre-launch token infrastructure.

In the words of Coinbase’s VP Greg Tusar, Liquifi will help “remove barriers and reduce token launch risk,” streamlining everything from regulatory filings to vesting workflows. This acquisition also reflects a broader trend: Coinbase wants to be the full-stack provider for token-based startups.

Celsius Lawsuit Against Tether: Inside the $4 Billion Bitcoin Battle

tether-loses-bid-to-dismiss-celsius-suit-seeking-to-reclaim-what-is-now-over-dollar4b-of-btc-that-tether-took-from-celsius-as-it-fell-into-bankruptcy — Source: X

While Coinbase was busy acquiring infrastructure, Tether — issuer of the world’s largest stablecoin, USDT — was facing serious legal heat. A U.S. bankruptcy judge just gave the green light for Celsius Network’s lawsuit against Tether to proceed, allowing key claims around breach of contract and fraudulent transfer to stand.

Celsius alleges that in June 2022, Tether liquidated over 39,500 BTC (now worth over $4 billion) from its collateral, violating agreed procedures. The claim suggests Tether executed a rushed “fire sale” during a market downturn, using the proceeds to offset a debt without giving Celsius a fair window to respond.

Celsius argues that the Bitcoin was sold below market value and transferred to Tether’s Bitfinex accounts, raising questions about good faith dealings and internal compliance. Despite Tether being incorporated offshore, the judge ruled that the actions had enough U.S. connections to fall under domestic legal scrutiny.

This lawsuit isn’t just about recovering assets — it’s also a key moment for defining how crypto lending and collateral management should work under U.S. law.