CEL

ckhumanck

i think in the case of Celsius, it's largely based around the CEL token Ponzi scheme, so for most people getting clawback request it's because they did profit and it was directly at the cost of those late to the party/late to exit.

ReverendBlue

Without insider knowledge could they legally claw anything back? I heard rumours on twitter and here, and I got everything off a week or two before it shut down, so just with publicly available information. Apparently they're going to mail me a cheque for the ~$50 in CEL that I just left there and I haven't heard anything about clawbacks. Not to mention, I had ETH there and I have sworn off shitcoins now so I'd like to know how they'd propose to claw back my non-existent coin.

JohnHue

It's not so much about the absolute price as it is about the market cap. CEL is relatively small (69m), what surprises me is that FTT's mcap is still 3/4th of a billion dollars... I guess a lot of people are still being used as exit liquidity for a few actors.

Boring_Ad4003

Replace CEL and FTT with MOONS and you have your answer. MOONS is a dead project that people around here still hang on to.

TouchMyTumor

I don't understand who is buying CEL. I thought they went out of business?

HSuke

At least it's not FTX, CEL, or CRO

bubumamajuju

You said the accounts were not segregated. How does anyone interpret that not to mean Earn vs Custody? That would be very different than what was alleged. Can you point to that in any filing? The “you are the yield” meme is equally ridiculous - the yield came from a bunch of different defi protocols, institutional borrowing, staking and liquid staking like lido, etc. I actually worked there briefly and the accounts were completely segregated while I was there. The “not really” to the lack of liquidity is so cocksure for no fucking reason. Like I’m not asking you that - I’m telling you because I was there and there were positions (not of my choosing mind you) that we could not unwind without taking huge losses. The entire point of halting withdraws initially was because the company needed to spread out the sells in order to get satisfactory prices. There were smart people brought in to save a good chunk of your money… at least before the lawyers got to it. The business model for Earn is not the entirety of the business. Earn had different terms. You almost certainly have a better understanding of the bankruptcy than me especially if you had funds there - I never did because I never believed in anything besides non-custodial BTC. Ironic crust a maxi is working for a shitcoin co probably but that was almost everyone on my team. The fraud you’re alleging is very different than the cases against Mashinsky. I don’t think he will beat the charges around price manipulation of CEL but the charges related to defrauding investors, I would be very surprised if he gets any serious jail time. The Earn terms were crystal clear imo - the lack of insurance was too. Essentially prosecutors are relying on the marketing from celsius which they claim outwardly gave customers a sense they were investing in a bank. That’s the SEC for you… but it’s comical. You’d have to be the biggest idiot on earth if anyone thought investing in celsius was insured. I don’t care what happens to him - I just was commenting on personal experience on the account segregation thing and occasionally I get more info on what’s happening with Celsius… again, like I said, I don’t follow what’s going on with them because the entire thing made me even more sure of my conviction against all these custodial shitcoin cos. That’s the Wild West for ya. I never let anyone in my friends/family invest in it while I was there - not your keys not your coins. For what it was worth I was promised a shitload of CEL (which I knew I’d likely never get and actively tried to negotiate out of entirely) but still it sucks for me too for what could have been.

eaypc1

Yeh it's probably worth contacting stretto to see what the deal is as you should be due it provided it's not in CEL token I think.

coinfeeds-bot

tldr; U.S. prosecutors are investigating potential conflicts of interest between the legal representation of Alex Mashinsky, former CEO of Celsius, and Sam Bankman-Fried, founder and former CEO of FTX. Concerns were raised due to lawyers Marc Mukasey and Torrey Young representing both defendants. A Curcio hearing has been requested to address the issue and ensure conflict-free legal representation. The conflict arises from allegations that FTX's subsidiary, Alameda Research, manipulated the price of Celsius's native token, CEL, which could compromise the integrity of the legal proceedings. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; Celsius Network is distributing over $3 billion to creditors as it emerges from bankruptcy. Creditors will also receive a stake in Ionic Digital Inc., a new mining operation expected to go public. The bankruptcy process, which lasted 18 months, concluded with 98% creditor approval. The company settled cases with the U.S. DOJ, SEC, and CFTC. Former CEO Alex Mashinsky, who resigned and was arrested on fraud charges, denies allegations of manipulating the CEL token's price. His assets are frozen, and his trial is set for September 2024. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

SoftPenguins

Celsius did wash trading to fake volume with CEL token. UST and Luna did wash trading to fake volume. Safemoon did wash trading to fake volume. They were in the court documents for all of those cases.

ckhumanck

he never participated in the CEL token?

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lelgimps

the amount of "5head" software engineers that shilled CEL. Has me convinced computer guys aren't all that intelligent.

etan1

It’s not the same. - Many coins are not just valued at the bottom of the bear market, but receive additional markdown. - The FTX claims are limited to a 100% payout of the bottom of the bear market, while there is much more money available. On MtGox all excess goes to creditors, nothing goes to investors. Every MtGox customer made > 10x profit, despite there having been a hack that deleted 80% of the BTC. In case of FTX, there was no hack and most money is still around thanks to some Alameda investments such as Anthropic. - In Celsius, CEL got valued at ~0.25, while here they propose to value FTT at ~0. - KYC is stricter in case of FTX, if not doing it in a short period after the next request to do so, the claim becomes worthless. Overall, its weird that FTX is treated completely different than CEL

Big_Effective_9174

Not sure which country you're in but in the UK there's a company called CEL who deal with recovering money from swindlers. I don't know what the circumstances have to be for them to even be able to help but they do mention cryptocurrency in their radio advert. I know its a lot of ifs and buts, but if there's any chance they could help I thought you'd want to know. If you're in another country maybe there is the equivalent.

One13Truck

Going balls deep on CEL, LUNC, FTX, and SOL. And moons, natch.

Larp22

Exactly 💯 it's not even defi because it's the most centralized block chain in crypto. Can't wait till these tards get rugged. You'd think FTX, Luna, and CEL would be examples enough on why to stay away from these scams. You cannot talk sense into people until they lose all their mkney and it's too late.

OshoBaadu

I used celsius as a means to diversify really. I did not have a single CEL token or whatever. Mostly ADA and some AVAX and MATIC. Worth 25k at that time. Hoping to get some of it back once the bankruptcy proceedings are completed next year.

Ryanopoly

Ever heard of FTT or CEL?

amplidud

Maybe trie in theory bit not in practice… FTX CEL MOONS TERRA/Luna Safemoon The list goes on. Yes these technically still exist but all value has been wiped from them for 1 reason or another. If you dont think the same can happen to ETH, BTC, ect. I think you are a little too optimistic. I’m not saying it will but just saying it cant cuz its crypto feels naive to me…

ReverendBlue

Good luck finding a place to offload them. Maybe Defi, but you won’t get the listed price. Highly illiquid market drives the price up as all the exchanges are delisting and dropping the asset. It’s like the CEL I had got pumped up after the bankruptcy and the token had crashed through the floor. At least Reddit users can access their tokens but it’s unlikely they can access the specific market that carries the inflated price point or if they can access it, the order book is so shallow that they’ll get a much lower price on average.

ztkraf01

I bought CEL token at $2 and sold it at $6.60. Made $1200 off that trade I bought LRC at $.41 and sold at $3.15. Made $700 off that trade. Only two times ive ever timed shitcoins well lol

masterzergin

I've been using it for years and loved it. But pulled all funds when CEL collapsed. Just as a precaution. But the fact that Nexo survived the CEL and FTX collapse speaks volumes about its legitimacy. They really got fucked hard and suffered a massive bank run. They handled it like a champ. If they can survive that, then they are somewhat trustworthy. All I have in there now is ~$500 of Nexo token, which was all free from interest rewards anyways. I'll probably park some assets on there once the market starts to pick up again but not much and definitely not during a big crash.

marsangelo

I have some CEL token and LUNC

MaxSmart1981

i mean, there's still a demand for CEL and LUNA 'classic' anything is posstible \*shrug\*

BoofingFluoride

FTT and CEL are still trading at non-zero values

rjm101

Add Celsius's CEL token to the list.

marsangelo

Not that I disagree, but ironically out of all the exchange tokens (CEL, FTT, NEXO etc) BNB is the only that has intrinsic utility as the token of Binance Smart Chain

SmackAttackLondon

Wait till you see the size of my CEL bag.

drewster23

I mean you could do the research, instead of open ended hypotheticals. It's called mismanagement of assets. It's not like he just pocketed billions, which you seem to be implying. Like most of these cases, they spend on everything under the sun. They spend more then they make, and continue to do so as they get bigger,(usually as a requirement to keep things from collapsing)compounding the issue, until it crashes. With the rates they were offering to hold your assets, and the staggering amount they did have access to over the years. That's a fuck load of money being paid out, that wasn't sustainable, and was propped up by fraudulent activity. Aka a ponzi scheme. How does a ponzi scheme stay afloat, by continuously bringing in more money to cover the pay outs, because it can't cover them. It's just a constant cycle of negative cash flow. "At various times during MASHINSKY’s tenure, MASHINSKY, COHEN-PAVON, and their co-conspirators also caused Celsius to use its own customer deposits to fund these market purchases of CEL in order to prop up CEL’s price, without disclosing this fact to Celsius’s customers. Without Celsius’s aggressive and illegal price manipulation, the price of CEL would have been drastically lower. As COHEN-PAVON wrote to MASHINSKY in a private message exchanged during the scheme: “[T]he issue is that people are selling [CEL] and no one is buying except for us,” adding, “[t]he main problem was that the value was fake and was based on us spending millions (~8M a week and even more until February 2020) just to keep it where it is.” " They were spending 8+ million a week, a lone in propping up cel price. Idk why you're bringing up mixers, unless there's specific evidence of him using mixers, the point is irrelevant to the question.

Cryptosockies

we got FTX 2.0 why not CEL 2.0 a ditch for people to burn their money in.

mattg1981

Below would be the Moon value if it had the market cap of the following coins (current market cap, imagine what it will do in a Bull). What do these coins have in common? They are either bankrupt companies, or projects that are clearly belly up after getting hacked/compromised. $5 Moons is a reality, maybe double that if SocialFi trends this upcoming bull like other sectors have in previous (FitnessFi anyone?). ​ |Coin|Moon Value| |:-|:-| |Celsius (CEL)|$0.63| |Luna (LUNA)|$1.82| |Luna Classic (LUNC)|$3.47| |Harmony (ONE)|$1.17|

mattg1981

Below would be the Moon value if it had the market cap of the following coins (current market cap, imagine what it will do in a Bull). What do these coins have in common? They are either bankrupt companies, or projects that are clearly belly up after getting hacked/compromised. $5 Moons is a reality, maybe double that if SocialFi trends this upcoming bull like other sectors have in previous (FitnessFi anyone?). ​ |Coin|Moon Value| |:-|:-| |Celsius (CEL)|$0.63| |Luna (LUNA)|$1.82| |Luna Classic (LUNC)|$3.47| |Harmony (ONE)|$1.17|

pizzapicnic

Whatapp messages between mashinsky and Cohen-Pavon are coming out in court dockets, showing mashinsky demanding the company buy more cel tokens to sustain the illusion that there were others interested in buying CEL. I cannot wait until all of these crooks are behind bars.

pizzapicnic

Whatapp messages between mashinsky and Cohen-Pavon are coming out in court dockets, showing mashinsky demanding the company buy more cel tokens to sustain the illusion that there were others interested in buying CEL. The dominoes are falling

pizzapicnic

Former Celsius exec strikes deal, agrees to testify against CEO Alex Mashinsky. Whatapp messages between mashinsky and Cohen-Pavon are coming out in court dockets, showing mashinsky demanding the company buy more cel tokens to sustain the illusion that there were others interested in buying CEL.

RiddleTower

Luna, UST, CEL 

moonkingdome

After the fall of CEL i discovered that even i could fall for the good old straight up blind faith trap. I mean peter swift was very clear Yet i wrote him of as a gold bug out to get crypto. Im still amazed at how well Mashinsky set this all up..

marsangelo

Unfortunately Gary hasnt gone after exchange tokens, which are primarily held, minted, and distributed by the exchanges themselves. Cant imagine how much has been lost in CEL and FTT but pretty wild theyve gotten by

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marsangelo

This guy was the number 2 seller of CEL besides Mashinsky. Behind the scenes dumping customer funds basically on themselves, 65 years is not enough but ill take it.

coinfeeds-bot

tldr; Former Celsius CEO, Alex Mashinsky, is seeking to have the Federal Trade Commission (FTC) drop its case against him. Mashinsky, who was arrested in July on charges of fraud and manipulating the price of the CEL token, has pleaded not guilty and his lawyers argue that the allegations are baseless. They are requesting that the court dismiss the FTC's claims that he misled investors. Mashinsky's former Chief Technology Officer, Hanoch "Nuke" Goldstein, also filed a separate motion arguing that he is being unjustly held guilty by association. The U.S. Attorney has asked the court to put the FTC proceedings on hold to avoid prejudicing the parallel criminal case. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; Steve Kokinos, the former CEO of Algorand, is set to become the CEO of the company that will take over Celsius' operations. The board of the new company, referred to as NewCo, will also include two members of Celsius' creditor committee. The creditors are currently voting on whether to sell the company to Fahrenheit Holdings, which could result in the partial return of their holdings. The proposed CEO, Steve Kokinos, has a background in entrepreneurship and investing. The former CEO of Celsius, Alex Mashinsky, was arrested on charges of securities fraud and manipulation of the CEL token. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Calm-Cartographer677

They should have frozen his assets before he was able to post a $40m bail, likely using money he stole from investors with his CEL ponzi.

DoubleFaulty1

TLDR: Banking and real estate assets of former Celsius chief Alex Mashinsky have been ordered frozen as a criminal case against him advances, according to court documents unsealed Tuesday. In July, Mashinsky, who also co-founded the lending platform, was arrested under multiple counts including securities fraud and manipulation of the company’s CEL token.

Successful_Craft3076

Some of the most popular coins in this sub, from 2021-22 Ckb CRO ONE Algo BAT LRC CEL Most of them are practically dead. All of them pretty much ruined. Don't trust the hype. Even in here

marsangelo

Itll likely get treated the same as CEL (im a Celsius victim) where the bankruptcy court deems it worthless due to manipulation and a settlement is offered to avoid disputed claims with token holders

its_witty

Ah, I'd love 70% of my worthless CEL tokens back

EAKera

this is so stupid it looks like a Sketch, I wouldn't be surprised, if he himself leaked this conversation, as a tactic to see if it pushes some desperate people to buy CEL, Alex being a narcissistic piece of crap I imagine he thought of this as a Genius Idea.

coinfeeds-bot

tldr; Former Celsius CEO, Alex Mashinsky's banking and real estate assets have been frozen by a court order as his criminal case progresses. Mashinsky was arrested in July on multiple counts including securities fraud and manipulation of the company’s CEL token. He has pleaded not guilty to these charges. The court order prevents financial institutions from selling assets in several Goldman Sachs bank accounts held in the name of the Koala LLC company and a residential property in Austin, TX. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

MrWannabeStockMan

Good question, Bitcoin was used as an example for relevancy to this sub, current savings account rates are piss poor, you could literally run a lemonade stand selling piss in a cup and outperform a banks savings account. The answer to your question, some of those no because they were scams, could I have invested in literally anything somewhat smart and came out on top of a savings account return, most definitely. At least with FTX, CEL, LUNA even though scam there was a chance to increase your value at one point. A bank account however is 100 percent guaranteed no strings attached to lose you value year after year

tambaybtc

**Leaked WhatsApp Chats Show Celsius Gambled $8M Weekly to Sustain CEL.** The founders spent over $8 million weekly to sustain CEL’s value. WhatsApp messages expose Celsius Network founders artificially inflating CEL token price. There are also allegations of them manipulating user holdings to boost CEL token holders count.

EdgeLord19941

The CEO of Celsius has no insider info on CEL token? Make that the cat wise

marsangelo

**Exchange tokens are not necessary and are literally securities** I dont understand why SEC didnt clamp down on this. Flywheel exchange tokens like FTT, CEL, BNB (atleast they have a chain) have caused *massive* damage and have no place beyond seed funding. Find a new way to raise capital and be done with these shitty ponzi tokens

bharath2018

Am against SEC thinking all crypto is bad - but guess they too are entitled to have concerns on projects and issues like CEL dosent help them either ‘

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C01n_sh1LL

Yeah, that 40 million dollars figure keeps coming up. Wasn't that roughly the same value of CEL that he secretly dumped in the months leading up to Celsius's failure, while claiming he was not selling?

coinfeeds-bot

tldr; Former Celsius CEO, Alex Mashinsky's banking and real estate assets have been frozen by a court order as his criminal case progresses. Mashinsky was arrested in July on multiple counts including securities fraud and manipulation of the company’s CEL token. He has pleaded not guilty to these charges. The court order prevents financial institutions from selling assets in several Goldman Sachs bank accounts held in the name of the Koala LLC company and a residential property in Austin, TX. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*

zoomercoomer9000

I truly hope he loses it all. Feds have internal comms from Celsius insiders discussing how they were stealing from customers' USDC deposits to prop up the price of CEL token. Pure fraud.

NEOkavliaris

CEL 🤡

Yegpetphoto

Those bastards owe me 1.8 CEL tokens. 

coatchecker

CEL should have no worth. Prioritize the holdings that were in other, still valid cryptocurrencies, not this shitcoin.

coinfeeds-bot

tldr; A bankruptcy judge has declined to classify Celsius Network's native token (CEL) as a security in light of a motion citing the ongoing Ripple Labs case. Investor Otis Davis had requested the court to recognize the legal precedent set in the Ripple/XRP case and create a separate committee for CEL token holders. However, the motion was denied by Chief U.S. Bankruptcy Judge Martin Glenn. The judge's decision does not constitute a finding under federal securities laws regarding crypto tokens. The SEC has been in a legal battle with Ripple since 2020 over the sale of XRP as an unregistered security. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*

evoxyseah

God, 2383 failures… the one that haunts me the most is FTX and CEL. Need a few decades to forget about it, maybe not lll

FidgetyRat

CEL tokens should be valued at zero since they have zero value. Sucks for the holders hit that is reality.

marsangelo

XRP ironically saving CEL token is pretty funny

samer109

>A bid to value CEL tokens at $0.80, the list price on bankruptcy day, failed. >Celsius' management have proposed to value CEL at $0.25 as they seek to wind up the company's affairs and return funds to creditors. Return funds at les than half the price..

coinfeeds-bot

tldr; A bid to value CEL tokens at $0.80, the list price on bankruptcy day, failed. If creditors vote in favor, a wind-up plan will now proceed with a lower $0.25 valuation. Two token holders, Santos Caceres and Otis Davis, lobbied the court to be able to take part in the bankruptcy negotiations via a special committee of CEL holders, which Judge Martin Glenn also rejected. Celsius' management have proposed to value CEL at $0.25 as they seek to wind up the company's affairs and return funds to creditors. The valuation was approved by Glenn last week. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*

myscienceisbetter

TLDR: Celsius token holders' attempt to value CEL at $0.80, its price when the company filed for bankruptcy, has been denied by a New York bankruptcy court. The court rejected this valuation, citing market manipulation concerns, and Celsius management has proposed valuing CEL at $0.25 to settle affairs and sell the company to Fahrenheit. The court also rejected two token holders' request to participate in bankruptcy negotiations via a special committee.

marsangelo

Youd have to have some special interests to fight for CEL value, like it literally takes money away from your own BTC/ETH/USD claims. Unless you hold almost exclusively CEL token, in which case there are some people who might like to ask you some questions…

Tasigur1

"In January, Shoba Pillay, an independent examiner Glenn appointed, said the market in **CEL was largely created by the company itself**, to the profit of insiders such as then-Chief Executive Officer Alex Mashinsky. Regulators have since arrested Mashinsky on charges including market manipulation, to which he has pleaded not guilty." They printed CEL out of thin air and it's backed by nothing. Fuck AM.

marsangelo

My Binance post got deleted but BNB, FTT, CEL are all peas in a pod and i hope regulators consider dealing with these flywheel exchange shitcoins with a firmer hand than they have been

coatchecker

Never seen the point of CEX or other investment platform coins (eg. Celsius with CEL). BNB was an exemption as it was BSC gas.

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Marauder2

New scam email going around. It’s actually quite convincing, has the logo, decent English, etc. don’t click the link, remember to check the email address and trust your gut. * Dear User, As you may be aware, Celsius Network LLC has recently faced challenging times, having filed for bankruptcy following the collapse of the Terra ecosystem. However, we have some encouraging news to share. Thanks to the leadership of Arrington Capital, and after receiving the approval from US Bankruptcy Judge Martin Glenn, we are pleased to announce that you can now retrieve your funds from our platform. You have the option to withdraw your assets from our platform immediately. Should you face any issues or have concerns, please do not hesitate to reach out to our support team. We understand the concerns of some customers regarding the repayment in CEL tokens. Be informed that the situation is under review with Judge Glenn and the SEC. We will keep you updated on the next steps. https://sinfronterasagencias.com/withdrassts Warm regards, Celsius Support Team Celsius Network LLC - 50 Harrison St. Suite 209F Hoboken NJ 07030, USA*

Tasigur1

Bought the Celsius token CEL just to park it on FTX to gain 8% per year. 🤦‍♂️

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sam-sung

>What ever happened to El Salvador’s much hyped volcano bonds? It was initially delayed in March of 2022 after being announced in 2021, and still have yet to be issued. Dead on arrival. The reason the bonds died was because Bukele ordered CEL (a state-owned electric company) to issue the bonds and back them with CEL assets (dams, wind turbine farms, etc). That didnt land well and Bukele lost momentum. >He made an announcement somewhat recently about it possibly being tied to a mining facility The only Bitcoin mining facility that Bukele opened has been powered down for the last 8 months. The facility has heating issues, power outages, and the equipment is no longer up to modern standards. >“Bitcoin City”. Another massive Bukele promise that has seen almost zero movement in two years. Bitcoin City was cancelled: >https://doncerotesv.blogspot.com/2023/06/el-salvadors-bitcoin-city-is-dead.html >Something tells me Bukele knew he could market these to his people to gain popularity without any actual path forward. And now he’s hoping people will just move on Bukele spent ONE BILLION DOLLARS trying to implement Bitcoin as a legal tender. Salvadorans are pressuring Bukele because he promised that one Bitcoin was going to be worth 31 MILLION DOLLARS: >https://imgur.com/gallery/ygLJjIB Bukele's solution to social pressure? Mark all the information regarding Bitcoin Purchases, Bitcoin Mining Facility, Volcano Bonds, and Bitcoin City as classified until 2028.

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OMFGROFLMAO2

Greed is a strong force. Once they slap the 8% APY on BTC and 12% on ETH, most will forget about FTX, CEL, and BlockFi.

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Icordingi

Oh, I get it now, CEL is meant to pump once Alex is behind jail cell bars! /s

risingcrow1o1

It’s better than my -25% LUNA -25% FTT -30% CEL -20% ALGO

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zoomercoomer9000

It's a civil fraud lawsuit, which can be useful in forcing Mashinsky to pay damages to his victims. What's more important is the upcoming criminal trial where he is facing 7 charges: 1. Securities Fraud 2. Commodities Fraud 3. Wire Fraud 4. Conspiracy to Manipulate the Price of CEL 5. Fraudulent Scheme to Manipulate the Price of CEL 6. Market Manipulation of CEL Token 7. Wire Fraud - CEL Token Manipulation These charges carry a maximum sentence of 115 years, but Mashinsky is likely to serve much less. Regardless, he's 58 years old so there's a decent chance he'll spend the rest of his life behind bars.

partymsl

If you look around, people still shill Safemoon and HEX. Heck, even LUNA, CEL and FTT get shilled.

CounterAdmirable4218

CEL token.

Collectibl3

After Celsius (CEL Token), I sold my NEXO stake & CRO. I'll never hold another exchange coin.

Silver-Maximum9190

Alex Mashinsky is a criminal who recently also admitted openly how they manipulated their native token CEL. He should get nothing less than life sentence.

zoomercoomer9000

They should take their time to compile a strong case, and also monitor Mashinsky's movements very closely. He has dual citizenship with Israel and the financial resources to flee. This guy engaged in serious fraud against his customers. Every time he would cash out his CEL tokens for millions of dollars, his team would steal from Celsius customers' USDC to prop up the value of CEL.

ztkraf01

Bought LRC at $.41 and sold at $3.15 Bought CEL at $1.40 and sold at $6.60 Only two times I ever was able to recognize the top and get out.

coinfeeds-bot

tldr; The criminal charges against the former CEO of Celsius, Alex Mashinsky, and the enforcement actions taken against the crypto lender have brought the company under scrutiny by U.S. regulators. The charges include securities fraud, commodities fraud, and wire fraud, as well as allegations of violating securities laws and manipulating the price of Celsius' native token, CEL. The U.S. Justice Department, Commodity Futures Trading Commission, Federal Trade Commission, and Securities and Exchange Commission have all launched investigations into Celsius' collapse and Mashinsky's role in it. The charges and enforcement actions against Celsius highlight the need for clearer regulation in the crypto industry. Many believe that punishing bad actors in the industry will send a message that fraud will not be tolerated. However, it is important to uphold due process in these cases. Regulators are likely to set an example with Celsius and other firms that have allegedly broken the law, especially those operating in the United States. The actions taken by regulators against bad actors in the crypto industry often provide hope for investors and consumers who have suffered losses. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

K-RonDaDon

No I think he literally means a company was twaping dodge. He did for CEL. SBF did it for Sol. Robinhood did it for Doge.

partymsl

CEL is a scam from start to finish, while at least we can say that SOL tries to get something done.

singerundertheshower

CEL is a whole new Liga of shitty token compared to SOL and that comes from somebody who doesn't like SOL either. But they good a working (mostly) product and quite some active development going on.

Silver-Maximum9190

Alex Mashinsky clearly stated how they manipulated the prices of their native token CEL and still this guy roams freely after paying bail with customers stolen funds. The whole system is corrupt to the core. This guy should be given life imprisonment.

ReverendBlue

Damn can’t wait to get my hands on my ~50CEL. What’s that worth now, $0.02?