Celsius files lawsuit to recover $150M from staking platform StakeHound
The current filing alleged that StakeHound required arbitration versus Celsius and argued that it “has no commitment” to exchange native ETH for the stTokens after it was faced by its breaches of duty to Celsius. In addition, Celsius also argued in the filing that “StakeHound must be required to instantly turn over Celsius property” and pay payment for damages that occurred from its breaches of legal duties.Cointelegraph reached out to Celsius Network and StakeHound for comments however did not get a reaction. Related: CFTC private investigators conclude ex-Celsius CEO Mashinsky broke United States guidelines: ReportLast year, it was reported that Celsius lost 35,000 ETH when StakeHound lost private keys for a total of around 38,000 ETH.
Because its insolvency filing nearly a year earlier, Celsius has actually been trying to make an effort to restructure. On Feb 15, Celsius presented a restructuring strategy that presses for the development of a public platform owned by Earn creators which will be sponsored by digital possession financial investment company NovaWulf. Collect this short article as an NFT to protect this moment in history and reveal your support for independent journalism in the crypto space.Magazine: Crypto regulation– Does SEC Chair Gary Gensler have the last word?
The recent filing alleged that StakeHound demanded arbitration versus Celsius and argued that it “has no responsibility” to exchange native ETH for the stTokens after it was faced by its breaches of task to Celsius. In addition, Celsius likewise argued in the filing that “StakeHound ought to be needed to instantly turn over Celsius property” and pay payment for damages that arose from its breaches of contractual duties.Cointelegraph reached out to Celsius Network and StakeHound for comments however did not get a reaction. Related: CFTC investigators conclude ex-Celsius CEO Mashinsky broke United States rules: ReportLast year, it was reported that Celsius lost 35,000 ETH when StakeHound lost personal keys for an overall of around 38,000 ETH.