News - The founder of Celsius, Mashinsky, admitted having cheated users and manipulating the prices of Cel.
- Celsius collapsed in 2022 resulted in more than $ 550 million in investor losses.
- Despite legal problems, the Celsius Celsius token jumped 70% after the new ones.
Old CEO Celsius Alexander Mashinsky Perhaps directed around 20 years in prison after pleading guilty of organizing a massive fraud system that has shot thousands of investors.
Prosecutors allege that Mashinsky has spent customer money money in an irresponsible manner, made false complaints on the finance of the company and manipulated the Cel token price to earn more than $ 48 million for itself.
Celsius, formerly considered a paradise for cryptographic investors, collapsed in 2022. Subsequent merger left ordinary investors amazed with estimated overall losses of more than $ 550 million.
Mashinsky pleaded in December 2024 to enumerations of fraud concerning the safety of Celsius and manipulation of the company's token. Prosecutors argue, however, that he still cannot accept full responsibility, divert the blame and hide the assets in the family trusts he controls.
Cel Token increases despite the legal defeat
In a dramatic turn, the Celsius token saw a dramatic wave after the news of the conviction. It jumped more than 70% in 24 hours, reaching a summit of $ 0.1782 before stabilizing at around $ 0.15. The push occurred even when Mashinsky faces the conviction by a federal judge in New York.
Even with the recent wave, the CEL is still well below its 2021 summit of $ 8.02, which is currently more than 98% more than this record. Analysts say that overvoltage can be the result of a short -term planting or a speculative exchange, rather than a recovery sign.
The decision to condemn will establish an important precedent for the responsibility of the cryptographic industry.
Highlighted the news of the crypto today
The Trump Coin team sells $ 20 million in tokens before investor dinner, faces criticism
share
