The Founder of Celsius Pleads Not Guilty to Fraud and Manipulation Charges
The founder and former chief executive of crypto lender Celsius, Alexander Mashinsky, has pleaded not guilty to charges of fraud and manipulation of the CEL token. Mashinsky was arrested and his bail was set at $40 million by a U.S. District Judge. He is accused of misleading investors and manipulating the price of his token. Mashinsky’s travel will be restricted, and he cannot open new bank or crypto accounts. The bond for his release will be secured by a financial claim on his New York City home and bank account.
Key Points:
- Founder of Celsius, Alexander Mashinsky, pleads not guilty to charges of fraud and manipulation.
- Mashinsky’s bail is set at $40 million by a U.S. District Judge.
- He is accused of misleading investors and manipulating the price of the CEL token.
- Mashinsky will have travel restrictions and cannot open new bank or crypto accounts.
- The bond for his release will be secured by a financial claim on his New York City home and bank account.
Lawyers for Mashinsky have stated that he vehemently denies the allegations and looks forward to vigorously defending himself in court against these baseless charges.
Hot Take:
The arrest and charges against Alexander Mashinsky, founder of Celsius, highlight the increasing scrutiny and regulatory actions being taken against individuals in the cryptocurrency industry. It serves as a reminder for investors and users to exercise caution and conduct thorough due diligence before engaging with any crypto project.
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