Ex-Celsius CEO Alex Mashinsky was arrested on federal securities fraud charges as the FTC announced a $4.7 billion settlement with the bankrupt crypto exchange.

Former Celsius CEO Alex Mashinsky was arrested Thursday on federal securities fraud charges, a source told CNBC as the bankrupt crypto exchange agreed to pay a $4.7 billion settlement with government regulators.

  • MicroWave@lemmy.worldOP
    3·
    1 year ago

    The exchange was also charged by the SEC and CFTC with scheming to defraud investors out of billions. The $4.7 billion settlement is one of the largest in the FTC’s history, close to the record $5 billion fine levied against Meta in 2019, and highlights what the FTC described as repeated deceptions by Celsius and Mashinsky.