New York Sues Crypto Lending Network Celsius and Its Former CEO
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The state of New York and its attorney general Leticia James are suing former crypto lending network Celsius for allegedly engaging in fraud and misusing customer funds. New York Comes Down Hard on Celsius The sentiment is that FTX wasn’t the only company to use traders’ money for personal gains this year. Celsius really rang a lot of negative bells last summer when it first announced it was going to be halting all withdrawals given that speculation and the volatility of the market had become way too big for its executives to handle. The halts would be put in place
Former Celsius Network CEO Alex Mashinsky was sentenced to 12 years in federal prison on Thursday. The decision follows his December guilty plea to organizing a fraudulent scheme that misled investors and manipulated the market value of Celsius’s native token, CEL. Sentencing Details The U.S. Attorney’s Office, Southern District of…