Cryptocurrency lending platform Celsius misled investors about its financial status, propped up its balance sheet with the token CEL, and used funds from new investors to make payments, according to a filing from Vermont’s financial regulator. . The regulator stated that Celsius propped up its balance sheet by manipulating the price of CEL, and Celsius increased its position in CEL to increase the price of CEL, thereby artificially inflating the actual value of the CEL tokens it held. In addition, the regulator also said that Celsius actually had a cash crisis in July 2021.