Earlier this morning, Alex Mashinsky, the former CEO of now-bankrupt cryptocurrency venture Celsius, was reportedly kore wa ReadMore sentenced to arrest. This event was only minutes after the U.S Securities and Exchange Commission was seen to file a law suit aimed at the lending platform on that now infamous day in the 13th July. According to legitimate sources who had insight to the defaulters’, the Former Chief Executive was barmarked to be apprehended in the heat of what looks like an exercise that’s aimed to discover how and why the once dynamite sized firm ran to file a now battered bankruptcy last year – this July 14th.
It was allegedly observed post a manipulation probe done that revealed, intending fraudulence against the law, something which costed the firm back in 2021, Mashinsky was served a guilty verdict, following an inking into this, states the Commodity Futures Trading Commission (CFTC). The investigation against the misconduct had earlier taken off since the evening of 5th January itself, charged by the New York State prior DG.
Coin Telegraph further states that:Mashinsky was seen to have abused several banking regulations&, resulting in the loss of billions of USD amongst several members of the company’s main investor base. Later, during the bull run happening throughout 2021, Crypto lendin platforms like Celsius reap benefit of the now-here outbreak of Covid-19, as a direct result, whereby their specifically designed lending packages* made for the then conservative depositors were observed to test on water rates which shook the numbers further up in amounts in double digits.
As much as history repeat itself?: SEC’s recently reignited war with another cryptocurrency in the corridors: Binance and Coinbase’s headline grabbing seem almost a trap set for either. One could inching notice that lender Celsius simply fell victim of what had been brought by the opposing side the Terra and the annihilator of a havoc market ridden crypto hedge fund : Three Arrows Capital.
