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Celsius Sues BitMEX for $495 Million Amid Market Manipulation Allegations

Guavy AI Editorial Team
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Celsius, a cryptocurrency lending platform, has filed a lawsuit against BitMEX in the U.S. Bankruptcy Court for the Southern District of New York. The complaint, which seeks $495 million, alleges fraud and market manipulation linked to Bitcoin's price crash in March 2020. This legal action comes just 11 days before BitMEX is scheduled to shut down trading on September 23.

The lawsuit highlights serious allegations of wrongful liquidations and fraudulent activities during a significant market downturn. Celsius is seeking to recover substantial losses attributed to alleged misconduct by BitMEX, a major cryptocurrency exchange.

As the shutdown of BitMEX looms closer, traders are closely monitoring how this legal battle may affect market dynamics and investor sentiment.

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