Celsius’s Mashinsky arrested, SEC files securities fraud charges
- Alex Mashinsky, co-founder and former CEO of crypto lender Celsius, has been arrested.
- The U.S. Securities and Exchange Commission (SEC) has filed securities fraud charges against Mashinsky and Celsius.
- The charges are related to alleged fraudulent sales of securities.
- Mashinsky and Celsius are accused of raising over $1 billion through the sale of unregistered securities.
- The SEC seeks civil penalties and an injunction against Mashinsky and Celsius to prevent further violations.
Looks like Celsius and Mashinsky got caught up in some hot water with the SEC. The alleged fraudulent sales of securities might have brought in some big bucks, but it seems like they didn’t play by the rules. Will they be able to weather the storm, or will this be the end of the road for Celsius? Only time will tell.