- Preferred shareholders of Celsius called for an investigation into claims of the crypto lender operating like a Ponzi scheme.
- The Judge has reprimanded Celsius’ attorneys for attempting to seal a motion regarding the $3 million employee bonus.
- Unsecured creditors are demanding investigations into the crypto lender’s business operations, including the relationship with FTX.
- State securities regulators want to investigate the misrepresentations made by the crypto lender to its customers.
At Celsius’ bankruptcy hearing held earlier today, the presiding Judge Martin Glenn heard arguments pertaining to various issues, including the crypto lender’s claim of ownership of stablecoins, the Key Employment Retention Plan, and concerns raised by the Unsecured Creditors Committee, among other things.
Preferred shareholders of the company have called for an investigation into Celsius’ business activities to determine whether it operated like a Ponzi scheme. The U.S Trustee is seeking a similar investigation. Judge Glenn has taken cognizance of the concerns surrounding the crypto lender’s questionable operations and has directed the court examiner and the Celsius Unsecured Creditors Committee to settle on who will investigate this angle.
David Frishberg, one of the unsecured creditors, has raised questions regarding the company’s relationship with crypto exchange FTX and has demanded a probe into the matter.
State securities regulators, who have launched enforcement…
