cryptojournalist
Swan Bitcoin is in a messy legal fight with its law firm, Gibson, Dunn & Crutcher. The issue? Gibson decided to represent Tether, one of Swan’s rivals in the crypto space, sparking a conflict of interest.
Here’s what happened: Swan hired Gibson to handle a lawsuit against former employees accused of stealing its software to launch Proton Management, a competitor. Swan claims Proton got backing from Tether, which hurt Swan’s business.
But things soured when Gibson hired a lawyer tied to Tether. Swan says the firm told them to find another lawyer because of the conflict. Now, Swan accuses Gibson of dumping them in favor of Tether, which they argue breaks ethical rules for attorneys.
Swan isn’t paying Gibson’s fees and is demanding millions. In response, Gibson wants out of the case. Swan fired back, asking the court to stop Gibson from quitting or representing Tether.
The court will address this on Nov. 26.
