Bankrupt cryptocurrency lender, Celsius Network, has filed a lawsuit against Liquid Staking Platform StakeHound. The crypto lender claims that Stakehound allegedly owes $150 million worth of tokens, including ether (ETH), Polygon’s MATIC, Polkadot’s DOT, and other cryptocurrencies, that belong to Celsius. The complaint was filed as part of Celsius Network’s ongoing bankruptcy proceedings. And according to the filing, StakeHound already initiated arbitration against Celsius. StakeHound argued that it was not obligated to exchange native ETH for “stTokens” after allegedly being confronted with breaching its duties to Celsius. Related Reading: Ethereum Price On The Verge Of Rectangle Pattern Breakout: Is $2000 Within Reach? StakeHound Argues No Obligation to Exchange stTokens, Court Filings State The crypto lender reportedly entrusted StakeHound in 2021 with 25,000 staked native ETH, 35,000 native ETH, 40 million MATIC, and 66,000 DOT, according to court documents. These tokens are valued at approximately $150 million, as indicated in the court filings. Celsius received “stTokens” in exchange for the tokens entrusted to StakeHound, which they could either use for other investments or return to StakeHound in order to retrieve their cryptocurrency ..
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