In the latest in a string of legal actions relating to the crypto industry in recent weeks, Alex Mashinsky, the co-founder and former CEO of the now-bankrupt cryptocurrency lending platform Celsius, was taken into custody on Thursday, Bloomberg reported. The development follows an extensive investigation into the companys abrupt downfall, according to a source familiar with the situation.
The U.S. Securities and Exchange Commission (SEC) has leveled accusations of securities fraud against both Celsius Network and Mashinsky. This lawsuit was swiftly followed by legal actions from the Commodity Futures Trading Commission (CFTC) and the Federal Trade Commission (FTC).
From March 2018 through June 2022, Defendants Celsius Network Limited and…
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