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Finance
Celsius Takes Legal Action Against BitMEX Seeking $495 Million Over 2020 Crash Liquidations
In early 2020, the cryptocurrency market experienced one of its most dramatic downturns, a period now commonly referred to as the COVID‑19 crash. Prices of major digital assets plummeted, margin positions were liquidated en masse, and a wave of financial distress rippled through both retail and institutional participants. Amid this turmoil, Celsius Network, a prominent crypto lending platform, fo…
Sept. 16, 2026, 5:34 p.m.
Finance
Celsius Files $495 Million Lawsuit Against BitMEX Over 2020 Crash Liquidations
In early 2024, Celsius Network, the once‑high‑profile crypto lending platform that filed for bankruptcy in 2022, announced that it would be taking legal action against BitMEX, the prominent cryptocurrency derivatives exchange. The lawsuit seeks a staggering $495 million in damages, a sum that reflects the massive losses incurred during the market turmoil of 2020. At the heart of the case is a lev…
Sept. 16, 2026, 5:34 p.m.
Finance
Celsius Takes Legal Action Against BitMEX Seeking $495 Million After 2020 Crash Liquidations
In early 2020, the cryptocurrency market experienced a dramatic downturn that sent shockwaves through the entire digital‑asset ecosystem. Among the many firms caught in the turmoil was Celsius Network, a prominent crypto‑lending platform that had built its reputation on offering users the ability to earn interest on their holdings while simultaneously providing borrowers with access to capital. T…
Sept. 16, 2026, 5:34 p.m.
Finance
Celsius Takes Legal Action Against BitMEX Seeking $495 Million Over 2020 Crash Liquidations
In a high‑profile dispute that underscores the lingering fallout from the cryptocurrency market turmoil of early 2020, the estate of the now‑defunct crypto lender Celsius Network has filed a lawsuit against the derivatives exchange BitMEX, alleging that the exchange is liable for roughly $495 million in damages. The claim centers on a massive leveraged long position that was opened on BitMEX in t…
Sept. 16, 2026, 5:34 p.m.
Finance
Celsius Takes Legal Action Against BitMEX Seeking $495 Million Over 2020 Crash Liquidations
In early 2024, Celsius Network’s bankruptcy estate filed a high‑profile lawsuit against the cryptocurrency derivatives exchange BitMEX, alleging that the latter is liable for roughly $495 million in damages stemming from liquidations that occurred during the market turmoil of 2020. The complaint centers on a leveraged long position that was opened by a Celsius client in the weeks leading up to th…
Sept. 16, 2026, 5:34 p.m.
Finance
Celsius Files $495 Million Lawsuit Against BitMEX Over 2020 Crash Liquidations
In a dramatic development that underscores the lingering fallout from the cryptocurrency market’s most turbulent year, Celsius Network has initiated a lawsuit against the cryptocurrency derivatives exchange BitMEX, seeking damages of $495 million. The claim centers on a series of forced liquidations that occurred during the market crash of March 2020, when Bitcoin and other digital assets experie…
Sept. 16, 2026, 5:34 p.m.
Finance
Celsius Takes Legal Action Against BitMEX Seeking $495 Million After 2020 Crash Liquidations
In early 2024, Celsius Network’s bankruptcy estate filed a high‑profile lawsuit against the cryptocurrency derivatives exchange BitMEX, alleging that the latter’s actions caused the loss of a massive Bitcoin position and seeking damages of roughly $495 million. The claim centers on a leveraged long position that Celsius opened in late 2019 and that was forcibly liquidated during the market turmoi…
Sept. 16, 2026, 5:34 p.m.
Finance
Celsius Takes Legal Action Against BitMEX Seeking $495 Million After 2020 Crash Liquidations
In early 2024, the bankruptcy trustee for the former cryptocurrency lender Celsius Network filed a high‑profile lawsuit against the derivatives exchange BitMEX, alleging that the exchange’s liquidation practices during the market turmoil of 2020 caused the loss of a massive Bitcoin position belonging to the Celsius estate. The claim seeks roughly $495 million in damages, a figure derived from the…
Sept. 16, 2026, 5:34 p.m.
Finance
Celsius Files $495 Million Lawsuit Against BitMEX Over 2020 Crash Liquidations
In early 2024, Celsius Network’s bankruptcy estate announced a high‑stakes legal action against the cryptocurrency derivatives exchange BitMEX, seeking more than $495 million in damages. The claim stems from the massive liquidations that occurred during the market turmoil of March 2020, when the COVID‑19 pandemic sent Bitcoin’s price tumbling and triggered a cascade of margin calls across the cry…
Sept. 16, 2026, 5:34 p.m.
Finance
Celsius Takes Legal Action Against BitMEX Seeking $495 Million Over 2020 Crash Liquidations
In early 2024, Celsius Network’s bankruptcy estate filed a high‑profile lawsuit against the cryptocurrency derivatives exchange BitMEX, alleging that the latter is liable for roughly $495 million in damages stemming from the massive liquidations that occurred during the market crash of March 2020. The complaint, filed in the United States District Court for the Southern District of New York, cont…
Sept. 16, 2026, 5:34 p.m.