US Commodity Futures Trading Commission Alleges Celsius and Former CEO Violated Investment Laws
The US Commodity Futures Trading Commission (CFTC) has accused Celsius Network and its former CEO, Alex Mashinsky, of breaking US investment laws. The CFTC claims that both parties deceived investors and failed to register with the appropriate authority. The investigation’s findings will be voted upon by CFTC commissioners, and if approved, a lawsuit may be filed later this month.
Key Points:
- Celsius Network and its former CEO, Alex Mashinsky, allegedly violated US investment laws.
- The US Commodity Futures Trading Commission (CFTC) has concluded that both parties deceived investors and failed to register.
- CFTC commissioners will vote on the findings, and if approved, a lawsuit may be initiated later this month.
- Celsius Network has already faced intense scrutiny and multiple lawsuits, including actions from the US Securities and Exchange Commission (SEC) and the New York State Attorney General.
- The New York Attorney General’s office claims that Mashinsky lied to investors about the risk of investing in Celsius Network and failed to register with the relevant authorities.
Hot Take:
The allegations against Celsius Network and its former CEO are serious and could have significant consequences for both parties. If a lawsuit is filed and successful, it could result in financial penalties and further damage to the reputation of the crypto lending platform. This case highlights the importance of transparency and compliance with investment laws to protect investors and maintain trust in the cryptocurrency industry.
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