On July 13, authorities arrested Alex Mashinsky, the previous CEO of Celsius Community. He faces prison and civil expenses stemming from his time on the cryptocurrency lending platform, which he helped co-found in 2017.
Though Mashinsky’s potential prison prosecution and Celsius’s indictment are ongoing, the occasions of this week have been a excessive level for a lot of crypto customers affected by the platform’s meltdown. There have been doubtless points Celsius confronted earlier than the crypto market crash of 2022, however the collapse of Celsius introduced instability to the lending platform into the highlight.
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