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Altcoin News- Celsius investors claim assistance of market maker in Wash Trading,
- Wintermute rejects claims of involvement in improper trading.
The bankrupt cryptocurrency lending platform has leveled allegations against Wintermute, a prominent crypto market maker, claiming that they actively participated in price manipulation of CEL tokens by facilitating “wash trading” in collaboration with Celsius executives.
The latest development in the legal proceedings showcases, Celsius creditors amending their lawsuit in the United States District Court of New Jersey. Alleging that Wintermute was employed by Celsius executives to engage in improper market trading practices.
Allegations suggest that Wintermute played a purported role in aiding Celsius Network’s CEO, Alex Mashinsky, and other executives in unlawfully manipulating and profiting from the unregistered CEL Tokens through the practice of illegal wash trading. According to reports, the creditors asserted that both Celsius executives and Wintermute were accused of acting with “scienter,” indicating knowledge and intent, concerning the alleged manipulative acts.
Moreover, the accusations put forth that Celsius executives purportedly involved Wintermute in the activities of “improper market making” starting from around March 2021 and extending until June 2022, when Celsius halted withdrawals.
Source: https://thenewscrypto.com/celsius-creditors-blame-wintermute-for-assisting-wash-trading/