Bloomberg Law
Aug. 23, 2022, 5:24 PM

Crypto Lender Celsius Accuses Money Manager of Theft, Deceit

Jeremy Hill
Jeremy Hill
Bloomberg News

A former money manager for Celsius Network LLC deceived the company about his investing abilities and lost or stole tens of millions of dollars in assets, the bankrupt crypto lender alleged in a lawsuit Tuesday.

Celsius, which filed for bankruptcy last month after freezing customer assets, alleges Keyfi Inc. and founder Jason Stone lied about his investing prowess and was incompetent in managing Celsius assets. The crypto lender also accused Stone of outright theft.

Stone began managing money for Celsius in 2020, according to the complaint. Unhappy with Keyfi’s reporting practices, Celsius demanded the return of coins under Stone’s control ...