Celsius Network Files Countersuit Against Former Employee Jason Stone

The Celsius drama took a dramatic turn. Bankrupt lender Celsius Network on Tuesday filed a countersuit against KeyFi and its CEO, Jason Stone, accusing the defendants of stealing valuable property. This follows the initial lawsuit filed by Jason Stone, a former employee at Celsius and now the CEO of KeyFi, who had accused Celsius Network of market manipulation and running a “Ponzi” scheme.

NEW YORK (BLOOMBERG) - Celsius Network, the crypto lender that froze assets last month, used customer funds to manipulate the price of its proprietary token, according to Stone's initial filing. In response, Celsius is now claiming Stone and KeyFi engaged in theft.

Celsius Network former investment manager, Jason Stone, filed a lawsuit against the troubled crypto lending platform accusing the company of running a “Ponzi scheme.” This legal battle escalates with Celsius's countersuit, alleging Stone's involvement in misappropriating company assets. The initial lawsuit by Jason Stone instigated legal proceedings via a summons filed in the New York court.

The legal proceedings are expected to be lengthy and complex, further complicating the already challenging situation for Celsius Network and its creditors.