Celsius has been one of the most well-known companies in the world of cryptocurrency. They have seen steady growth over the last few years and are being considered as one of the promising companies that would rule the market in the upcoming days. The company made some significant profits over the years as it attracted the interests of more and more people. Unfortunately, everything does not look to be the same at the moment.
The crypto market is facing some of its darkest times at the moment. This is because the market is currently plagued by all forms of negativity. In the recent past, the market has experienced a huge downward curve that has made investors fearful about investing. Companies like Ethereum and Bitcoin slumped to new lows during this phase. Coinbase is on the verge of liquidation. Apart from all these, the market has also been plagued by various scams and frauds recently.
Many more companies have decided to cut on their employees to cope with the ongoing dark times. The downward trends of the market caught up with the company and they had to declare themselves bankrupt. This was a huge blow to the company as well as its investors. Celsius has recently taken the matters to the court and has directly held KeyFi liable for their losses. Let us learn more about the story in detail below.
Celsius Accuse KeyFi For Its Loss
Celsius is suffering through one of the darkest phases of its business at the moment. They have declared themselves bankrupt and are currently suing KeyFi for their losses. In a recent news update it has been found that a legal lawsuit has been filed against KeyFi. The CEO of the company, Jason Stone has also been handed legal notice.
Celsius stated that both KeyFi and Stone misguided them posing as an expert in DeFi. They said that Stone and his company deceived Celsius and also charged them on grounds of incompetence.