Alex Mashinsky, the founder of bankrupt cryptocurrency lender Celsius Network, has been arrested by US authorities and charged with fraud and market manipulation.
Prosecutors allege that Mashinsky misled investors into ploughing billions of dollars into Celsius, portraying it “as a modern day bank, where customers could safely deposit crypto assets and earn interest”.
An indictment unsealed shortly after Mashinsky’s arrest on Thursday said that by contrast the cryptocurrency platform had operated “as a risky investment fund” that was far less profitable than Celsius had led investors to...…Alex Mashinsky, the founder of bankrupt cryptocurrency lender Celsius Network, has been arrested by US authorities and charged with fraud and market manipulation.
Prosecutors allege that Mashinsky misled investors into ploughing billions of dollars into Celsius, portraying it “as a modern day bank, where customers could safely deposit crypto assets and earn interest”.
An indictment unsealed shortly after Mashinsky’s arrest on Thursday said that by contrast the cryptocurrency platform had operated “as a risky investment fund” that was far less profitable than Celsius had led investors to...WW…
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