TechFlow news — Wintermute, a cryptocurrency market maker, is accused in a proposed class-action lawsuit of helping former Celsius CEO Alex Mashinsky defraud investors.
The plaintiffs originally sued Mashinsky and other Celsius executives in July 2022. This week, they amended their federal lawsuit in New Jersey to include Wintermute as a defendant.
The lawsuit alleges that Wintermute engaged in wash trading to artificially inflate the price and trading volume of Celsius' native token, CEL. The suit is unrelated to Celsius’ bankruptcy proceedings.
Wintermute strongly denied all allegations of misconduct in a statement.
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