Celsius Network Faces Fraud Charges Amid Liquidity Strains

Troubled crypto lending platform Celsius Network is facing fraud charges in a New York state court. Reuters reported this news on July 7, noting that KeyFi Inc brought these charges against the firm. Specifically, the plaintiff accuses Celsius of running a Ponzi scheme for personal gain. KeyFi Inc, which is run by Jason Stone - a former Celsius investment manager - claims Celsius used customer deposits to rig the price of its native token, CEL. Citing “gross mismanagement of customer…