The creditors' committee of crypto lending platform Celsius Network has just filed a lawsuit against Equities First demanding the return of $439 million.
The plaintiff has requested information about the loan agreements, any transfer of funds between Celsius and the defendant, and the reason for the defendant's inability to return the escrow for the above amount.
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The Texas Securities Board, the Texas Department of Banking and the Vermont Department of Financial Regulation yesterday opposed the platform's plan to sell $23 million in stablecoins.
The proposal will be filed in court on October 6.
The regulators fear Celsius will use the funds to reopen for business in violation of state laws.