Celsius Claims Mostly Dismissed Against Chainalysis in Ongoing Lawsuit

A US federal judge has largely dismissed Celsius Network's claims against blockchain analytics firm Chainalysis in an ongoing lawsuit.

The case centers on a 2020 'audit' announcement by Celsius, which claimed to have used Chainalysis' Reactor software to calculate assets under management. The initial calculation produced about $1.18 billion, but the figure was later increased to roughly $3.3 billion after changing methodologies.

The court allowed one aiding-and-abetting claim to proceed, based on allegations that Chainalysis knew certain statements in Celsius' press release were false or misleading and still helped disseminate them.