Investment Firm KeyFi Sued Celsius for Delinquent Asset Management Fees

KeyFi has filed a formal lawsuit against Celsius, alleging that Celsius owes KeyFi millions of dollars in asset management fees, tweeted Jason Stone, founder of investment firm KeyFi. Jason Stone said KeyFi began managing deposits from Celsius clients after Celsius partially acquired KeyFi's assets and team in 2020. But Celsius didn't hedge KeyFi's strategy as promised. Thereafter, KeyFi terminated its relationship with Celsius and closed out its DeFi positions, but the process resulted in impermanent loss that were blamed by Celsius on KeyFi's mismanagement. In addition, Jason Stone stated that he had previously been working privately with Celsius to resolve the dispute, but filed a lawsuit against Celsius because Celsius was indebted to KeyFi and shirking responsibility for the losses.