FTC Says Celsius And Affiliates Agreed To A Judgment Of $4.7B, Which Will Be Suspended To Permit Celsius To Return Remaining Assets To Consumers; Celsius Network That Will Permanently Ban It From Handling Consumers' Assets And Charged 3 Former Execs
Portfolio Pulse from Happy Mohamed
The Federal Trade Commission (FTC) has announced that Celsius and its affiliates have agreed to a judgment of $4.7 billion. This judgment will be suspended to allow Celsius to return remaining assets to consumers. The FTC has also permanently banned Celsius Network from handling consumers' assets and charged three former executives.
July 13, 2023 | 1:56 pm
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NEGATIVE IMPACT
The FTC's actions against Celsius could potentially impact the value of Bitcoin, as Celsius is a major player in the cryptocurrency market.
Celsius is a major player in the cryptocurrency market. The FTC's actions could potentially lead to a decrease in the value of Bitcoin due to a decrease in trust in the market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
The FTC's actions against Celsius could potentially impact the value of Ethereum, as Celsius is a major player in the cryptocurrency market.
Celsius is a major player in the cryptocurrency market. The FTC's actions could potentially lead to a decrease in the value of Ethereum due to a decrease in trust in the market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
The FTC's actions against Celsius could potentially impact the broader market, as represented by the SPY ETF.
Celsius is a major player in the cryptocurrency market, which is a part of the broader financial market. The FTC's actions could potentially lead to a decrease in the value of the SPY ETF due to a decrease in trust in the market.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 30