Report post

Did Celsius networks defraud investors?

Link Copied! The New York attorney general filed a civil lawsuit Thursday against the co-founder of now-bankrupt cryptocurrency lender Celsius Networks for allegedly defrauding hundreds of thousands of investors who deposited billions of dollars into the platform.

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.

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.

What are Keyfi's complaints about Celsius?

However, KeyFi’s complaints make some broader, more detrimental allegations regarding the Celsius network. It accuses the company ofmisrepresenting the risk associated with using its platform. Moreover, it accuses Celsius of fraudulently misrepresenting its own business practices; this is especially evident alongside the Arkham report.

Related articles

Canadian Authorities Initiate New Project to Combat Crypto Fraud

Canadian Authorities Initiate New Project to Combat Crypto Fraud2024-09-06 09:48:40The Alberta Securities Commission (ASC) has collaborate […]

Canadian Crypto Exchanges Faces Deadline For CIRO Membership

Canadian Crypto Exchanges Faces Deadline For CIRO Membership2024-08-06 23:33:50Canadian crypto exchanges face a looming deadline to comply with new regulations, specifically CIRO membership. With the crypto deadline approaching, exchanges are scrambling to adapt and ensure regulatory compliance. The question arises: are Canadian exchanges urgently pursuing regulatory compliance? This article explores the challenges and opportunities facing Canadian crypto exchanges as they navigate the changing regulatory landscape.

Best Ethereum ETFs In Canada For 2024

Best Ethereum ETFs In Canada For 20242024-08-01 02:52:21Discover the top Ethereum ETFs in Canada for 2024, including a comprehensive guide on what Ethereum ETFs are and how they work. Learn about the evolving investments in Ether ETFs like ETHR and CI Galaxy’s ETHX, as well as the purpose and benefits of investing in ETHH. Stay ahead of the curve with our curated list of top Ethereum ETFs for Canadian investors.

Canadian Tribunal Strikes Down Bitfarms’ Poison Pill Against Riot Platforms

Canadian Tribunal Strikes Down Bitfarms’ Poison Pill Against Riot Platforms2024-07-25 15:35:16On Wednesday, Bitcoin mining firm Riot Platforms announ […]

Solana ETFs Could Be Approved Without CME Futures: SOL Price Prediction

Solana ETFs Could Be Approved Without CME Futures: SOL Price Prediction2024-07-21 22:57:17Solana ETFs’ approval prospects and SOL price predictions are gaining momentum, with investors speculating on the potential impact of these funds on SOL’s growth. The outlook is being closely watched, especially during U.S. elections, as market sentiment could shift. While CME futures are not yet a necessity, the ETF approval may serve as a significant catalyst for SOL’s price movement. Stay tuned for updates on this developing trend.

The World's Leading Crypto Trading Platform

Get my welcome gifts