Ponzi Scheme

Ponzi Scheme

Crypto lender Celsius is a ‘Ponzi scheme’ that used customer funds to manipulate token prices, former employee says in lawsuit

Celsius Network, the crypto lender that froze assets last month, used customer funds to manipulate the price of its proprietary token and lost hundreds of millions of dollars by failing to hedge risk, a former money manager for the company said in a lawsuit. Celsius amassed more than ...Read More

Crypto hedge fund Three Arrows Capital is an ‘old-fashioned Madoff-style Ponzi scheme,’ research firm FSInsight says

The crypto industry was “brought to its knees” in recent weeks by an “old-fashioned Madoff-style Ponzi scheme” wrapped in a trade that was similar to the positions that sunk Long Term Capital Management (LTCM),” research firm FSInsight said in a report Friday looking at the implications ...Read More