Celsius creditors allege Wintermute facilitated 'wash trading': Report

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Celsius creditors allege Wintermute facilitated 'wash trading': Report
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According to a June 23 Bloomberg report, Celsius creditors have alleged that crypto market maker Wintermute aided Celsius executives to “unlawfully manipulate and profit from the illegal wash trading of unregistered CEL Tokens.'

in the United States District Court of New Jersey to include allegations against Wintermute for its alleged involvement in improper market trading.Wintermute, described as a “purported market maker in the crypto industry,” allegedly aided Celsius Network's CEO, Alex Mashinsky, and other executives to “unlawfully manipulate and profit from the illegal wash trading of unregistered CEL Tokens.

“Defendant Wintermute and the Executive Defendants engaged in a scheme that artificially inflated the trading volume of the CEL tokens sold and marketed by Celsius.” “The supposed controls were virtually non-existent, and those that did exist did not monitor for or protect against “wash trading” or self-dealing” it was stated.

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