Bitcoin financial services firm Swan Bitcoin has filed an ex parte application to subpoena Cantor Fitzgerald and its former CEO, Howard Lutnick. The move aims to uncover documents tied to a failed mining venture with Tether and allegations of employee exodus and data theft.
Swan accuses former employees of launching a rival firm, Proton Management, and diverting Tether’s partnership. Cantor Fitzgerald, Tether’s investment banker, allegedly had access to confidential information before severing ties with Swan.
Swan’s lawsuit claims Cantor Fitzgerald ghosted them after receiving proprietary details during IPO discussions. The case against Proton Management remains ongoing.