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Celsius Network Investigation

Cryptocurrency lending platform Celsius has promoted itself as being a company that, through its decentralized finance (DeFi) services, would “disrupt the financial industry.” Unfortunately for many investors who trusted Celsius and believed their holdings were properly safeguarded by Celsius, that disruption has manifested itself in the form of investor assets being frozen and fears of those assets disappearing amidst business mismanagement before those assets can be withdrawn by the accountholders.

In June 2022, as worldwide cryptocurrency markets tumbled downward, Celsius enacted a policy that prevented accountholders from withdrawing their assets. By doing so, Celsius prevented people from redeeming and liquidating their assets before crypto prices fell even further. That decision not only frustrated investors and spawned losses that could have been prevented, it also called into question whether Celsius was insolvent and on the verge of filing for bankruptcy protection. Concerns amongst Celsius accountholders and those who hold Celsius’ native -- and rapidly devalued -- token (CEL) run high, and those concerns need to be addressed before the Celsium platform devolves and drains with it what once was a $3 billion valuation.

Silver Miller (www.SilverMillerLaw.com) -- the leading cryptocurrency investor law firm in the country, with vast experience litigating against cryptocurrency exchanges like Coinbase, Kraken, Cryptsy, and Poloniex; Initial Coin Offering (ICO) promoters; and other crypto coin purveyors -- is already investigating the Celsius platform problems on behalf of investors amidst their concerns of fraud, misrepresentations, and potential securities law violations. Celsius investors concerned about their investments are urged to contact Silver Miller at 954-516-6000 or DSilver@SilverMillerLaw.com. Please fill out the Confidential Free Consultation form on this page for a no-cost, no-obligation consultation to discuss your legal rights.

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