Celsius scandal opens a new episode
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The Celsius scandal opens a new episode with the lawsuit filed by Jason Stone in a New York court. The former investment manager of Celsius Network, in the lawsuit accuses the company of operating as a Ponzi scheme. He accuses them of inflating the price of CEL with users' Bitcoin assets. He also points out that the company has recently repaid its loan to MakerDAO whose collateral was $484 million worth of customer tokens and yet they have not re-enabled withdrawals.
With this ahead, it seems that Celsius is still at the crossroads and we still have some episodes to discover. They have 20 days to respond to the demand so we will have news soon. Let's hope this is a lesson learned for new projects and that no new bankruptcy cases appear for the time being.
It could be good news that all these over-leveraged companies have gone down but the lack of confidence and the lack of capital in the market means that we still need to wait a while to see if we are surfing the bottom.
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