Overview
- Swan filed an ex parte application in federal court in New York seeking permission to subpoena Cantor Fitzgerald and Commerce Secretary Howard Lutnick for documents and testimony in its dispute over 2040 Energy.
- The company says it needs the U.S. discovery to support foreign claims it plans against Tether CEO Paolo Ardoino, owner Giancarlo Devasini, and Bitfinex CEO Jean‑Louis van der Velde.
- Swan alleges a mid‑2024 plan led by then chief investment officer Raphael Zagury with Tether personnel that led to 13 resignations on Aug. 8, 2024 and large downloads of internal files, followed by the launch of Proton.
- Swan also claims Tether‑appointed directors approved a related‑party sale of 2040 Energy’s mining assets to a Tether subsidiary in December 2024 at a price it says was far too low.
- Swan says Cantor received confidential IPO and mining data during June 2024 talks after an introduction by Devasini, then stopped responding after the resignations, which is why it believes Cantor and Lutnick may hold key records.