What's wrong with Celsius crypto?

Today, the Celsius crypto, CEL, is suffering a one-two punch of bad news — a damning report and a lawsuit. The report, released by Arkham Intelligence, is loosely related to last month’swithdrawal freeze. See, the company halted withdrawals from its platform as its liquidity was being bled dry. The move halted 500,000 users’ assets.

Did Celsius defraud investors?

A lawsuit by KeyFi accuses Celsius of defrauded investors, conducting a Ponzi scheme and reneging on business agreements. As this news circulates, the Celsius crypto is taking a beating. The suit, filed yesterday, is primarily centered around the agreement made between the two companies regarding its investing of users’ funds.

Why did a former investment manager Sue Celsius Network?

REUTERS/Dado Ruvic/Illustration NEW YORK, July 7 (Reuters) - A former investment manager at Celsius Network sued the crypto lender on Thursday, saying it used customer deposits to rig the price of its own crypto token and failed to properly hedge risk, causing it to freeze customer assets.

Is Celsius (cel-USD) a Ponzi scheme?

The Celsius ( CEL-USD) network is landing itself in the courtroom, thanks to a lawsuit by KeyFi. The decentralized finance (DeFi) aggregator platform accuses Celsius of backing out of an agreement, and it even labels Celsius as aPonzi scheme.