Celsius's Majority Claims Against Chainalysis Dismissed, One Claim Allowed to Proceed

A federal judge in the Southern District of New York has dismissed 15 claims made by Celsius's bankruptcy trustee against Chainalysis, allowing one allegation regarding its assistance to Celsius insiders in breaching fiduciary duties to proceed. Among the dismissed claims, three consumer protection claims can be amended by October 20. The case involves Celsius promoting approximately $3.3 billion in assets calculated using Chainalysis tools as an "audit" in 2020, with the plaintiffs alleging that Chainalysis participated in this promotion and was aware of misleading statements; these allegations have not yet been validated by the court.

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