Crypto Lender Celsius Misled Investors, Vermont Regulator Says
- New court filing says Celsius hid financial trouble since 2021
- Vermont regulator alleged lender manipulated price of tokens
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Celsius Network Ltd., the bankrupt cryptocurrency lender, may have hidden its financial trouble from its investors and “engaged in the improper manipulation of the price” of the platform’s tokens to boost the company’s balance sheet and financials, according to a new court filing.
The Vermont Department of Financial Regulation submitted the filing on Wednesday in support of the United States Trustee’s motion to appoint an independent examiner. The trustee handling Celsius’s bankruptcy case previously said that it is seeking an examiner to help get additional information and clear up “confusion and anxiety.”