Alex Mashinsky Pleaded Not To Fraud, Freed For $40 Million

Key Points:

• Celsius founder Alex Mashinsky does not accept allegations related to defrauding investors and manipulating the CEL token price.
• His wife agreed to bail for up to $40 million.
• Mashinsky was bailed on the condition that he would have travel restrictions and could not open a new bank account or cryptocurrency under the agreement.

According to court documents, the founder of bankrupt crypto lending company Celsius Alex Mashinsky has pleaded not guilty to charges including fraud and manipulation of the CEL token.

Previously, Mashinsky was charged with seven counts related to deceiving investors and manipulating the price of CEL tokens, which he completely denied.

The founder and former CEO of bankrupt crypto lender Celsius has been set at $40 million by a US District Judge, and his wife will be the signatories of the pledge when the other co-signer has yet to be identified, court documents reveal.

Mashinsky will be bailed on the condition that he has travel restrictions and cannot open a new bank account or cryptocurrency under the agreement.

The founder and former CEO of bankrupt crypto lender Celsius has been set at $40 million by a US District Judge, and his wife will be the signatories of the pledge when the other co-signer has yet to be identified, court documents reveal. The bail amount was secured by a financial request on his New York City home and bank account.

On the evening of July 13, the United States Securities and Exchange Commission (SEC) filed a lawsuit against Celsius Network. This cryptocurrency lending company went bankrupt in July 2022 during the then liquidity crisis, as well as former CEO Alex Mashinsky was arrested by US authorities and sued by the New York state government.

After the SEC, the US Department of Justice (DOJ), the Futures Trading Commission (CFTC), and the Federal Trade Commission (FTC) all filed lawsuits or indictments against Celsius.

Celsius is one of three major crypto companies that collapsed in mid-2022, alongside Three Arrows Capital and crypto investment app Voyager. The company then disclosed that it had more than 100,000 creditors, remaining assets of $4.3 billion, and liabilities of $5.5 billion.

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