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Topic: Former Celsius CEO Alex Mashinsky reportedly arrested - page 3. (Read 433 times)

hero member
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Leading Crypto Sports Betting & Casino Platform

Full doc here:
https://www.ftc.gov/system/files/ftc_gov/pdf/2223137celsiusnetworkorder.pdf

I assume this is in order to freeze any possible assets Celsius might have? Wild guess here!



A company like Celsius with multiple assets like mining, lending, network etc is vulnerable and difficult to control, I think that's one of the reasons they had to go bankrupt. How will they control all the assets mentioned on the doc, it's numerous, if they focused on two; lending and mining it could have been better and easier for them to withstand and trace any pipelined problem. Normally a business will grow, and sooner it'll begin to drop in value, that way Celsius would have been introducing other assets gradually other than managing all of them at a go. It's wild that, while cryptocurrency based businesses are getting penalized, the market keeps going, a sign that only a few of this businesses should be in existence. Because if SEC can't harm cryptocurrency they'll focus mainly on crypto based businesses.
legendary
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Blackjack.fun
And... Just in: It looks like they got fined $4.7 billion and also got banned from trading by the Federal trade comission[1]. I'm guessing that now, any hope of users recovering their funds has been lost good?

https://www.ftc.gov/news-events/news/press-releases/2023/07/ftc-reaches-settlement-crypto-platform-celsius-network-charges-former-executives-duping-consumers

Quote
The proposed settlement with Celsius and its affiliates will permanently ban the companies from offering, marketing, or promoting any product or service that could be used to deposit, exchange, invest, or withdraw any assets. The companies also agreed to a judgment of $4.7 billion, which will be suspended to permit Celsius to return its remaining assets to consumers in bankruptcy proceedings. The former executives—ex-CEO and co-founder Alexander Mashinsky along with Celsius’s other co-founders Shlomi Daniel Leon and Hanoch “Nuke” Goldstein—have not agreed to a settlement and the FTC’s case against them will proceed in federal court.

Full doc here:
https://www.ftc.gov/system/files/ftc_gov/pdf/2223137celsiusnetworkorder.pdf

I assume this is in order to freeze any possible assets Celsius might have? Wild guess here!

staff
Activity: 3500
Merit: 6152
And... Just in: It looks like they got fined $4.7 billion and also got banned from trading by the Federal trade comission[1]. I'm guessing that now, any hope of users recovering their funds has been lost good?

[1] https://cointelegraph.com/news/celsius-network-fined-billions-by-ftc
legendary
Activity: 2912
Merit: 6403
Blackjack.fun
Former Celsius CEO Alex Mashinsky reportedly arrested
https://cointelegraph.com/news/celsius-ceo-alex-mashinsky-arrested

There are a few topics about Celsius and this PoS but I think that if the reports are confirmed, we need a topic for the celebration

Quote
The former CEO of now-bankrupt crypto lender Celsius, Alex Mashinsky, was reportedly arrested on the morning of July 13. The news broke minutes after the United States Securities and Exchange Commission filed a lawsuit against the crypto lender on the same day.

The former CEO was reportedly arrested after a probe into the company’s collapse, reported Bloomberg citing people familiar with the matter. The US Department of Justice indicted Mashinsky on charges of fraud and intention to manipulate the market.

Bloomberg source (might be paywalled)
https://www.bloomberg.com/news/articles/2023-07-13/sec-files-lawsuit-against-celsius-network-alex-mashinsky

Now, with a bit of luck, taking into account Celsius collapsed in June and FTX in November, then in a few months we might have another good piece of news.
So Mashinsky down, Do Kwon arrested, SBF close to prison time, when CZ?  Grin
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