📌 Former Celsius CEO Alex Mashinsky reportedly arrested
🟠Fined $4.7 billion by the U.S. Federal Trade Commission
✅Source:https://cointelegraph.com/news/celsius-network-fined-billions-by-ftc
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This may have a little impact to the current market sentiment but this also make me wonder how one can carefully identify a trusted platform in this space cos this case is not much different from FTX that took us unaware.
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Actually, it's hard to predict these kinda fraudulent things earlier. FTX has been on the mainstream media before it's collapse & it has been said that, it's the main rival of Binance. But at the end of the day, we know what happened!
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The information provided by lookonchain indicates that all the $cel tokens from Alex Mashinsky's wallet have been successfully sold. It remains uncertain whether the sale was initiated by the US authority or if Alex Mashinsky himself carried it out prior to his arrest. Nevertheless, this development is highly detrimental to the cryptocurrency industry.
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Latest Update: Celsius Co-Founder Alex Mashinsky's Bail Set at $40M!! Wtf is going on 🫥🫥!
According to : https://storage.courtlistener.com/recap/gov.uscourts.nysd.601957/gov.uscourts.nysd.601957.5.0.pdf
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Even after all this news, $CEL continues to maintain a strong position, with minimal negative impact on its price.
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