Chainalysis Wins Most Celsius Claims as Audit Case Continues

A US federal judge has dismissed most claims filed by Celsius Network’s litigation administrator against Chainalysis, while allowing one aidingandabetting claim to continue. The surviving allegation says Chainalysis helped Celsius insiders breach their fiduciary duties by assisting with a 2020 press release that described a $3.3 billion figure as an audit and independent verification. Judge Margaret Garnett said the complaint adequately alleged that Chainalysis knew the statements could be false or misleading. The court dismissed 12 other claims with prejudice and threw out three consumerprotection claims without prejudice, giving the plaintiffs until Oct. 20 to amend them. The lawsuit is part of Celsius’ bankruptcy estate recovery efforts after the crypto lender froze withdrawals in 2022 and later filed for bankruptcy.