What happened to Celsius Network?

Sign up for our new Crypto newsletter and follow @crypto Twitter for the latest news. Celsius Network, the crypto lender that froze assets last month, used customer funds to manipulate the price of its proprietary token and lost hundreds of millions of dollars by failing to hedge risk, a former money manager for the company said in a lawsuit.

Did crypto lender Celsius inflated the price of its own cryptocurrency?

Crypto lender Celsius artificially inflated the price of its own digital coin, failed to hedge risk and engaged in activities that amounted to fraud, a lawsuit alleges. Celsius on Thursday was sued by former investment manager Jason Stone, as pressure continues to mount on the firm amid a crash in cryptocurrency prices.

What will Celsius Network LLC's bankruptcy mean for crypto users?

The judge overseeing Celsius Network LLC’s bankruptcy case is expected to decide if the crypto firm has full ownership rights over customer deposits, a key legal issue that may resonate for millions of other users of failed crypto platforms.

Was Celsius a Ponzi scheme?

Stone alleges in the lawsuit that Celsius was running a “Ponzi scheme.” Celsius on Thursday was sued by former investment manager Jason Stone, as pressure continues to mount on the firm amid a crash in cryptocurrency prices. Stone has alleged, among other things, that Celsius CEO Alex Mashinsky (above) was “able to enrich himself considerably.”