Celsius Network Goes Bust Amid Crypto Pyramid Scheme Allegations

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Celsius Network, a major crypto finance and lending firm, has gone bust under signs of a pyramid scam. The shock wave of the crisis, which includes the arrest of its financial director, Yaron Shalem by the Israeli police —accused of money laundering and fraud— has hit the market hard. Celsius NetworkAs bitcoin drops below $24,000 in a new 18-month low, Celsius Network was the first to announce the suspension of withdrawals, exchanges, and transfers between accounts in the operations of its crypto clients. Q1 2022 hedge fund letters, conferences and more The firm managed the equivalent of $20 b…

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