Celsius Network, the now-bankrupt crypto lender, has filed an appeal challenging the dismissal of its $2 billion defamation lawsuit against crypto exchange FTX. The lawsuit, initially filed in November 2022, alleged that FTX executives and employees made damaging statements that caused customers to withdraw funds and damaged Celsius' reputation and financial health. Celsius later reduced the claim to $444 million based on preferential transfers. A U.S. bankruptcy court dismissed the claims in January 2023, citing procedural deficiencies and finding that Celsius failed to meet the court's pleading requirements. Celsius has argued that the court erred in its decision and that FTX's statements were defamatory and aimed at destroying Celsius' business. The appeal will be heard by the U.S. District Court for the Southern District of New York. The outcome of the appeal could have implications for other defamation lawsuits in the crypto industry, which has been plagued by bankruptcies and allegations of fraud. If Celsius is successful in its appeal, it could set a precedent for courts to hold crypto companies accountable for false or misleading statements.