followBloomberg report on June 23, whichquoteRecent court filings indicate that Celsius’s creditors recently resolved their lawsuits.in the United States District Court for the District of New Jersey to accuse Celsius executives of hiring Wintermute to engage in ‘wash trading’
Wash Trading is a form of market manipulation that creates the illusion that an asset is trading at a higher volume than it actually is.
Wintermute allegedly helped Celsus CEO Alex Mashinsky and other executives “manipulate and profit from the illegal wash trading of unregistered CEL tokens.”
accusing creditors Both Celsus executives and Wintermute said: “Wintermute defendants and executive defendants. Contribute to increasing trading volume of oversold CEL tokens.”
according to the lawsuit the alleged conspiracy was revealed through “Public internal discussions” between Celsus executives.
There are further claims that Celsius executives hired Wintermute for inappropriate marketing. From approximately March 2021 “until Celsius stops withdrawals in June 2022.”
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