Summary
- Alex Mashinsky, the founder of Celsius, admitted guilt to two counts of fraud and could face up to 30 years in prison.
- Federal prosecutors stated that he deceived Celsius customers to encourage investment and significantly inflated the value of Celsius's native token (CEL).
- Mashinsky expressed his desire to take responsibility for falsely claiming that Celsius had regulatory approval and for stating that CEL tokens were not being sold.
Alex Mashinsky, the founder and former CEO of the virtual asset lending institution Celsius, has pleaded guilty.
According to Reuters on the 3rd (local time), founder Alex Mashinsky admitted guilt to two counts of fraud on this day. As a result, he faces up to 30 years in prison.
Last July, Mashinsky was indicted on a total of seven financial crimes, including fraud, conspiracy, and market manipulation. At the time, federal prosecutors believed he deceived Celsius customers to encourage investment and significantly inflated the value of Celsius's native token (CEL).
Alex Mashinsky stated, "I falsely claimed that Celsius had regulatory approval. I also falsely stated that we were not selling Celsius tokens, and I want to take responsibility for my actions."
Uk Jin
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