In a complaint filed in Manhattan bankruptcy court, Celsius accused KeyFi Inc. of ‘gross negligence’
Celsius Network LLC on Tuesday sued a former investment manager, accusing him of losing or stealing tens of millions of dollars in assets before the crypto lender went bankrupt last month.
Celsius said Stone proved “incapable” of deploying coins profitably, causing “many tens of millions of dollars” in losses. It claimed that Celsius ran a Ponzi scheme, mismanaged customer deposits, failed to hedge investments, and cheated Stone out of potentially hundreds of millions of dollars of compensation.In an e-mailed statement, Stone’s lawyer Kyle Roche said KeyFi’s compensation, including NFTs, had been authorized by Celsius Chief Executive Alex Mashinsky.
Both lawsuits seek to recoup sums that each side believes the other owes, plus compensatory and punitive damages.
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