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 <h2 id="celsius-ex-ceo-assets-freeze-by-court">Celsius Ex-CEO Assets Freeze by Court</h2> 
 <p><span style="font-weight: 400;">The restraining order is part of an extensive investigation into Mashinsky’s purported misconduct. Moreover, it follows his </span><span style="font-weight: 400;">arrest</span><span style="font-weight: 400;"> in July on fraud charges filed by the U.S. Securities and Exchange Commission (SEC).&nbsp;</span></p>  
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  <p><span style="font-weight: 400;">According to court documents, there is probable cause to believe Mashinsky’s assets are tied to securities fraud, wire fraud, market manipulation, and money laundering. Consequently, these assets are now subject to forfeiture.</span></p> 
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 <p><span style="font-weight: 400;">Mashinsky had </span><span style="font-weight: 400;">stepped down</span><span style="font-weight: 400;"> from his role at Celsius in September 2022. He cited that his position had become an “increasing distraction” as the company faced severe financial difficulties. Celsius declared bankruptcy last year during a market downturn that rattled the entire crypto sector. Hence, the court permitted the firm to convert its altcoin holdings into Bitcoin and Ethereum to stabilize its financial standing.</span></p> 
 <h2 id="b-celsius-ceo-mashinsky-fights-back-b"><b>Celsius CEO Mashinsky Fights Back</b></h2> 
 <p><span style="font-weight: 400;">Mashinsky has, however, vehemently denied the charges aiming to vigorously defend his reputation and legacy in court. After his release on a $40 million bail, his attorney Jonathan Ohring announced that his client categorically rejects all allegations..</span></p>  
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 <p><span style="font-weight: 400;">Additionally, U.S. regulators, including the SEC and the Commodity Futures Trading Commission, are cracking down on fraud in the crypto industry. This enforcement surge comes from several high-profile collapses and mounting public concern about the adequacy of existing laws and oversight.&nbsp;</span></p> 
 <p><span style="font-weight: 400;">The Federal Trade Commission had also imposed a $4,7 billion fine </span><span style="font-weight: 400;">&nbsp;on Celsius but suspended it to enable the platform to use its assets during bankruptcy proceedings.</span></p> 
 <p><span style="font-weight: 400;">However, the asset freeze raises new concerns about the future of both Mashinsky and the broader crypto sector. This case is one to watch, as it may set precedents for how legal systems interact with the rapidly evolving field of cryptocurrencies.</span></p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/court-freezes-former-celsius-ceo-mashinsky-s-assets-tbt61788.html">https://thebittimes.com/court-freezes-former-celsius-ceo-mashinsky-s-assets-tbt61788.html</a></p>

Court Freezes Former Celsius CEO Mashinsky's Assets

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