Is Celsius Network the latest victim of cryptocurrency crash?

REUTERS/Dado Ruvic/Illustrations July 13 (Reuters) - Crypto lender Celsius Network said on Wednesday it has filed for bankruptcy, becoming the latest victim of a dramatic plunge in prices that has shaken the cryptocurrency sector.

Why did a former investment manager Sue Celsius Network?

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.

Can Celsius lend or sell crypto?

Judge Martin Glenn of the U.S. Bankruptcy Court in New York is set to consider this week whether Celsius has the right to lend, sell and reinvest billions of dollars of crypto deposited in its high-interest accounts. Customers have clamored for a return of their coins as quickly as possible,...

Can Celsius customers claim a breach of contract?

Celsius customers may be able to bring fraud or breach of contract claims against the crypto lender, and state regulators may be able to make the case that the accountholders' contracts cannot be enforced because they violated state securities laws, according to the ruling.