Celsius Lost $350M Due to High-Risk Trading Strategies: Report

Crypto lending platform Celsius entrusted corporate funds worth around $530 million to asset manager Jason Stone who engaged in high-risk leveraged crypto trading strategies that resulted in a massive loss. According to a July 7 report from blockchain analytics firm Arkham Intelligence, these trading strategies resulted in losses of $350 million when Stone “returned capital compared to the value of the crypto assets.