Creditors of Celsius Network are seeking permission from a bankruptcy judge to issue subpoenas to FTX, as they suspect that some FTX users may have engaged in suspicious trades that manipulated the price of Celsius' CEL token between April and August 2022. The creditors believe that the information from FTX will help them determine whether the trades were legitimate or constituted market manipulation. The committee representing Celsius Network's creditors has requested information on users associated with ten cryptocurrency wallets allegedly involved in suspicious trades and any short positions taken on CEL. The information is crucial in determining whether the trades involving CEL were intended to inflate its price artificially and could be critical to resolving a dispute related to Celsius' bankruptcy. Meanwhile, FTX has entered into a purchase agreement to sell LedgerX, its futures and options exchange and clearinghouse, for approximately $50 million.
(By EZRA REGUERRA)
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