Key Notes

The settlement represents one of the largest crypto bankruptcy recoveries in recent US history involving offshore entities.

Tether's USDT dominates with $180B market cap and $5.7B H1 2025 profit, outperforming Circle by 8000%.

The fundraise aims to expand operations amid growing competition from Trump-backed USD1 and Ripple's RLUSD stablecoins.

On Oct. 14, the Blockchain Recovery Investment Consortium (BRIC), a joint venture between GXD Labs and VanEck, announced a $299.5 million settlement with Tether in connection with the Celsius Network bankruptcy case. The lawsuit, filed in the US Bankruptcy Court for the Southern District of New York, stemmed from collateral transfers and liquidations made before Celsius’s July 2022 collapse.

Following months of litigation, GXD Labs, a

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