Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 11911
Markets: 92185
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
11911
Cryptocurrencies
53.72%
Bitcoin Share
Cryptopolitan 2024-12-03 22:35:47

Celsius co-founder Alex Mashinsky will plead guilty to two counts of fraud

Celsius co-founder Alex Mashinsky will plead guilty to two counts of fraud

Alex Mashinsky, the founder and former CEO of defunct cryptocurrency lending company Celsius Network, said he plans to enter a guilty plea for two counts of fraud. In a Tuesday hearing before U.S District Judge John Koeltl, Mashinsky agreed to the plea deal on charges of commodities fraud and manipulating the price of Celsius’ own token, CEL. The plea comes after Mashinsky was indicted in July 2023 for seven counts of fraud, conspiracy, and market manipulation. The prosecutors accused him of defrauding investors and manipulating the value of CEL. At first, Mashinsky pled not guilty, but when the trial date was set for January 2024, he took the plea agreement. Celsius’ bankruptcy and crypto sector fallout Celsius was launched in 2017 and initially offered higher yields to crypto owners and bought tokens from institutional investors. However, the company filed for Chapter 11 bankruptcy in July 2022 after many customers withdrew their money in response to a crash in the price of cryptocurrencies. The company’s activities resumed in January 2023 after coming out of bankruptcy and ventured into Bitcoin mining. Celsius was not immune to the general collapse of the cryptocurrency market in 2022. The rising interest rates and high inflation rate pushed the digital asset price down and put major companies like Three Arrows Capital, Voyager Digital, and FTX out of business. The federal prosecutors also accused Mashinsky and Celsius’ former Chief Revenue Officer Roni Cohen-Pavon of manipulating the price of CEL. Cohen-Pavon had pleaded guilty in September 2023 and agreed to participate in the investigations. The prosecutors claim that Mashinsky personally gained $42m from the sale of the CEL tokens. New SEC leadership could shape the future of crypto Since the crash in 2022, the cryptocurrency market has made a comeback. This has been boosted by the win of President-elect Donald Trump, who is expected to support crypto-friendly policies. As reported by Cryptopolitan , Trump reportedly offered the post of the SEC chair to Paul Atkins who is a known crypto supporter. The current SEC Chair, Gary Gensler is set to resign on January 20th, 2025, which is the same day Trump will be inaugurated. Mashinsky along with many others has been charged for fraud in the recent past following the market collapse. FTX founder Sam Bankman-Fried was convicted in November 2023 for the wire fraud of $8 billion from customers and was sentenced to 25 years in jail. A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.

Most Read News



Cryptohopper
hardware wallets, hardware , wallets, Crypto Currency, Cryptocurrency hardware wallets, Crypto Apparal, crypto wallet, Cryptocurrency wallets

Market Cap
24h Vol
53.72%
Bitcoin Share
603
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.