Celsius

Elon Musk

Coin

<div class="insidebitcoins"> 
 <div class="telegrame_cta_content"> 
  <div class="wrap"> 
   <div class="telegrame_cta_content_inr"> 
    <p>Join Our <u>Telegram </u>channel to stay up to date on breaking news coverage</p> 
   </div> 
  </div> 
 </div> 
 <p class="p2"><span class="s1">Alex Mashinsky, founder of bankrupt crypto lender Celsius, filed a motion to dismiss a case brought against him by the Federal Trade Commission (FTC).&nbsp;</span></p> 
 <p><span class="s1">Mashinsky was charged in July with multiple counts of fraud and market manipulation, when his lawyers labelled the charges against him “baseless.” They added that Mashinksy was looking forward to “vigorously defending himself in court.” </span></p> 
 <p>Now they say the case should be dismissed. <span class="s1">The allegations do not support a claim that Mashinsky knowingly made a misstatement to fraudulently obtain customer information from a financial institution, as is required under a 1999 law known as the Gramm-Leach-Bliley Act, his lawyers said in the filing, </span><span class="s1">emphasizing that the charge fails to meet this criterion.&nbsp;</span></p> 
 <h3 id="celsius-had-already-declared-bankruptcy">Celsius Had Already Declared Bankruptcy</h3> 
 <p class="p2"><span class="s1">The lawyers pointed out that Celsius had already declared bankruptcy and reached a settlement agreement with the FTC.&nbsp; They asserted that Mashinsky resigned from his role as CEO of Celsius on September 27, 2023, which they argued weakens any claims of ongoing or possible legal violations on his part.</span></p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">Celsius founder and former Chief Revenue Officer charged in connection with multibillion-dollar fraud and market manipulation schemeshttps://t.co/zyUODJAqk5</p> 
  <p>— US Attorney SDNY (@SDNYnews) July 13, 2023</p> 
 </blockquote> 
 <p></p> 
 <h2 class="p3" id="span-class-s1-b-celsius-cto-also-challenges-charges-b-span"><span class="s1"><b>Celsius CTO Also Challenges Charges</b></span></h2> 
 <p>The lawsuit also saw Celsius former <span class="s1">Chief Technology Officer Hanoch “Nuke” Goldstein</span><span class="s1"> challenge <span class="s3">the charges against him. He claimed</span>&nbsp;that the FTC is unfairly assigning blame to him due to his connections with other Celsius executives and retweeting a blog by Celsius.</span></p> 
 <p class="p2"><span class="s1">Mashinky supports Goldstein’s motion to dismiss the case.&nbsp;</span><span class="s1">“Accordingly, the court should grant Mashinsky’s motion and dismiss the complaint against him in its entirety,” the lawsuit read.</span></p> 
 <h2 class="p3" id="span-class-s1-b-temporarily-halt-ftc-proceedings-b-span"><span class="s1"><b>Temporarily Halt FTC Proceedings</b></span></h2> 
 <p class="p2"><span class="s1">At the same time, U.S. Attorney Damian Williams requested that the court <span class="s3">temporarily halt the FTC proceedings</span> in order to avoid any potential bias that could affect the ongoing criminal case involving Mashinsky.</span></p> 
 <p class="p2"><span class="s1">The Celsius founder stepped down as CEO in September last year following the company’s bankruptcy filing in July. After his arrest, he was released on a $40 million bond, and last month, <span class="s3">a court froze his assets</span>, which include various bank accounts and a property in Texas.</span></p> 
 <p>Submitted in court on Monday, <span class="s2">this motion</span><span class="s1"> comes after Celsius found itself in financial trouble last year amid the cryptocurrency market’s downturn, ultimately filing for bankruptcy.&nbsp;</span></p> 
 <p class="p2"><span class="s1">He had previously <span class="s3">entered a plea of not guilty</span><span class="s3">&nbsp;</span>to charges of securities fraud, wire fraud, market manipulation, conspiracy to manipulate the price of CEL, commodities fraud, and fraudulent schemes to manipulate customers.</span></p> 
 <h3 class="p2" id="span-class-s1-b-related-articles-b-span"><span class="s1"><b>Related Articles</b></span></h3> 
 <ul class="ul1"> 
  <li class="li5"><span class="s4"><span class="s5">Crypto Trading Apps</span></span><span class="s6"><br> </span></li> 
  <li class="li5"><span class="s4"><span class="s5">Binance Dismisses Parallels With Bankrupt FTX, Says Its Assets Are ”Backed One-To-One”</span></span><span class="s6"><br> </span></li> 
  <li class="li5"><span class="s4"><span class="s5">Bitgamo To Open 75 Crypto ATMS in Europe Next Year</span></span><span class="s6"><br> </span></li> 
 </ul> 
 <div class="inContentProviderSingle inContentColor--insidebitcoins fc-row"> 
  <div class="inContentProviderSingle--wrapper"> 
   <div class="container"> 
    <div class="row mb-lg-3"> 
     <div class="col-12 col-md-8"> 
      <p class="inContentProviderSingle--title">Wall Street Memes - Next Big Crypto</p> 
     </div> 
     <div class="col-12 col-md-4"> 
      <div class="inContentProviderSingle--rating"> 
       <div class="rating--holder"> 
        <p class="rating--text">Rating</p> 
        <div class="rating--star-container"> 
         <div class="rating--star" style="width: 100%;"></div> 
        </div> 
       </div> 
      </div> 
     </div> 
    </div> 
    <div class="row">  
     <div class="col-12 col-md-12 text-center d-block d-sm-block d-md-none d-lg-none"> 
      <img class="inContentProviderSingle--img mb-3" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%20125%2060'%3E%3C/svg%3E" alt="Wall Street Memes" width="125" height="60" data-lazy-src="https://thebittimes.com/image/getimage/?url=https://thebittimes.com/image/getimage/?url=https://insidebitcoins.com/wp-content/uploads/2023/05/wall-street-memes.svg"> 
      <noscript> 
       <img class="inContentProviderSingle--img mb-3" src="https://thebittimes.com/image/getimage/?url=https://thebittimes.com/image/getimage/?url=https://insidebitcoins.com/wp-content/uploads/2023/05/wall-street-memes.svg" alt="Wall Street Memes" width="125" height="60"> 
      </noscript> 
     </div> 
     <div class="col-12 col-md-8"> 
      <ul class="inContentProviderSingle--list"> 
       <li>Early Access Presale Live Now</li> 
       <li>Established Community of Stocks &amp; Crypto Traders</li> 
       <li>Featured on BeInCrypto, Bitcoinist, Yahoo Finance</li> 
       <li>Rated Best Crypto to Buy Now In Meme Coin Sector</li> 
       <li>Team Behind OpenSea NFT Collection - Wall St Bulls</li> 
       <li>Tweets Replied to by Elon Musk</li> 
      </ul> 
     </div>  
     <div class="col-12 col-md-4 d-none d-sm-none d-md-block d-lg-block"> 
      <img class="inContentProviderSingle--img float-right" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%20125%2060'%3E%3C/svg%3E" alt="Wall Street Memes" width="125" height="60" data-lazy-src="https://thebittimes.com/image/getimage/?url=https://thebittimes.com/image/getimage/?url=https://insidebitcoins.com/wp-content/uploads/2023/05/wall-street-memes.svg"> 
      <noscript> 
       <img class="inContentProviderSingle--img float-right" src="https://thebittimes.com/image/getimage/?url=https://thebittimes.com/image/getimage/?url=https://insidebitcoins.com/wp-content/uploads/2023/05/wall-street-memes.svg" alt="Wall Street Memes" width="125" height="60"> 
      </noscript> 
     </div> 
    </div> 
    <div class="row"> 
     <div class="col-12 text-center"> 
      <div class="inContentProviderSingle--button">
        Learn More 
      </div> 
      <div class="inContentProviderSingle--disclaimerText"> 
      </div> 
     </div> 
    </div> 
   </div> 
  </div> 
 </div> 
 <div class="telegrame_cta_content"> 
  <div class="wrap"> 
   <div class="telegrame_cta_content_inr"> 
    <p>Join Our <u>Telegram </u>channel to stay up to date on breaking news coverage</p> 
   </div> 
  </div> 
 </div> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/celsius-founder-alex-mashinsky-wants-ftc-case-dismissed-tbt62456.html">https://thebittimes.com/celsius-founder-alex-mashinsky-wants-ftc-case-dismissed-tbt62456.html</a></p>

Celsius Founder Alex Mashinsky Wants FTC Case Dismissed

Table of Contents

TheBitTimes

Other articles published on Sep 12, 2023

INTU Stock Price Prediction: Is the Trend Fueled Earnings Over?

Folius Ventures: Friend Tech Analysis Report

PayPal Rolls Out Crypto On and Off Ramps Through MetaMask Integration

Analysts: Domini.art might outperform EOS and Cosmos

Mixnets: what are they good for?

MetaMask Adds Support for Third-Party Features via Newly Launched Snaps

Join our free newsletter for daily crypto updates!