We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

  • TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
  • TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
  • TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood
We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details
Market News Celsius Network Hampered by One-Two Punch of Harsh Accusations

Celsius Network Hampered by One-Two Punch of Harsh Accusations

The Celsius Network is still receiving negative press.

Cory Russell
2022-09-08
440

微信截图_20220908111334.png


Through bankruptcy, Celsius Network (CEL-USD) is stumbling along. It has been engaged in a protracted legal battle with creditors, clients, and lenders as it attempts to climb out of a financial hole. Now, Celsius is taking a few more hits this week. Authorities have charged Celsius of operating like a Ponzi scheme. One of CEL's cofounders is now making a statement that will make the bankruptcy process much more challenging.


In June, when withdrawals were frozen, Celsius became notorious in the cryptocurrency world. One of the first companies to forbid investors from transferring their money, the firm essentially forced them into a negative spiral that most investors just wanted to escape by accepting losses while they could. The choice was justified at the time as a measure to safeguard investors' investments. But when it became apparent that Celsius was on the verge of bankruptcy, the action was more of a stabilizing effort.


After some wrangling with lenders and a determined effort to pay off debt, time passes, and Celsius is still declaring Chapter 11 bankruptcy. The corporation has been pledging since July to return to a profitable position where it can draw in new investors. But it turns out that's easier said than done.


The company's strategy to mining its way out of debt has been challenged after many weeks of legal battles between Celsius and its creditors. Finally, Celsius has received a judge's approval to proceed in this manner. However, the business has also had to cope with several lawsuits, serious allegations of financial misuse, and more. Now, its problems are just getting worse.

This already struggling corporation is now being attacked by new, audacious allegations. The newest challenges for The Celsius Network? Regulators are closely monitoring the circumstances that resulted in its bankruptcy proceedings. The legal dispute between the corporation and CEL has also recently been complicated by the cofounder of CEL.


First off, it's clear that Celsius and Vermont's Department of Financial Regulation are at odds; the agency recently made this information public in a striking new file. State officials basically claim that Celsius "misled investors about its financial soundness." They claim the business padded its financial sheet with the CEL cryptocurrency.


The department even goes so far as to claim that Celsius is run like a Ponzi scheme. The petition states that "yields to current investors were undoubtedly being paid using the assets of new investors, at least at certain periods in time." The case, according to the agency, is the outcome of a multi-state probe of the business's actions before it filed for bankruptcy.


Daniel Leon, a co-founder of Celsius, is raising a whole other issue for this already-tense brand. Leon recently filed a document with the court describing his 32,600 common shares as "worthless." Leon is probably utilizing the filing to transform his ownership into a tax deduction, therefore this information may not have any bearing on Celsius in terms of penalties. However, it just makes the Celsius Network's situation worse.

Previous
Next

Bonus rebate to help investors grow in the trading world!

Need Assistance?

7×24 H

Download the APP for Free