Former Celsius CEO Alex Mashinsky reportedly arrested

[stompix]

Former Celsius CEO Alex Mashinsky reportedly arrested
https://cointelegraph.com/news/celsius-ceo-alex-mashinsky-arrested

There are a few topics about Celsius and this PoS but I think that if the reports are confirmed, we need a topic for the celebration

The former CEO of now-bankrupt crypto lender Celsius, Alex Mashinsky, was reportedly arrested on the morning of July 13. The news broke minutes after the United States Securities and Exchange Commission filed a lawsuit against the crypto lender on the same day.

The former CEO was reportedly arrested after a probe into the company’s collapse, reported Bloomberg citing people familiar with the matter. The US Department of Justice indicted Mashinsky on charges of fraud and intention to manipulate the market.

Bloomberg source (might be paywalled)
https://www.bloomberg.com/news/articles/2023-07-13/sec-files-lawsuit-against-celsius-network-alex-mashinsky

Now, with a bit of luck, taking into account Celsius collapsed in June and FTX in November, then in a few months we might have another good piece of news.
So Mashinsky down, Do Kwon arrested, SBF close to prison time, when CZ?  

[1714692288]

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[1714692288]

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[1714692288]

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[OmegaStarScream]

And... Just in: It looks like they got fined $4.7 billion and also got banned from trading by the Federal trade comission[1]. I'm guessing that now, any hope of users recovering their funds has been lost good?

[1] https://cointelegraph.com/news/celsius-network-fined-billions-by-ftc

[stompix]

And... Just in: It looks like they got fined $4.7 billion and also got banned from trading by the Federal trade comission[1]. I'm guessing that now, any hope of users recovering their funds has been lost good?

https://www.ftc.gov/news-events/news/press-releases/2023/07/ftc-reaches-settlement-crypto-platform-celsius-network-charges-former-executives-duping-consumers

The proposed settlement with Celsius and its affiliates will permanently ban the companies from offering, marketing, or promoting any product or service that could be used to deposit, exchange, invest, or withdraw any assets. The companies also agreed to a judgment of $4.7 billion, which will be suspended to permit Celsius to return its remaining assets to consumers in bankruptcy proceedings. The former executives—ex-CEO and co-founder Alexander Mashinsky along with Celsius’s other co-founders Shlomi Daniel Leon and Hanoch “Nuke” Goldstein—have not agreed to a settlement and the FTC’s case against them will proceed in federal court.

Full doc here:
https://www.ftc.gov/system/files/ftc_gov/pdf/2223137celsiusnetworkorder.pdf

I assume this is in order to freeze any possible assets Celsius might have? Wild guess here!

[Accardo]

Full doc here:
https://www.ftc.gov/system/files/ftc_gov/pdf/2223137celsiusnetworkorder.pdf

I assume this is in order to freeze any possible assets Celsius might have? Wild guess here!

A company like Celsius with multiple assets like mining, lending, network etc is vulnerable and difficult to control, I think that's one of the reasons they had to go bankrupt. How will they control all the assets mentioned on the doc, it's numerous, if they focused on two; lending and mining it could have been better and easier for them to withstand and trace any pipelined problem. Normally a business will grow, and sooner it'll begin to drop in value, that way Celsius would have been introducing other assets gradually other than managing all of them at a go. It's wild that, while cryptocurrency based businesses are getting penalized, the market keeps going, a sign that only a few of this businesses should be in existence. Because if SEC can't harm cryptocurrency they'll focus mainly on crypto based businesses.

[avikz]

Now, with a bit of luck, taking into account Celsius collapsed in June and FTX in November, then in a few months we might have another good piece of news.
So Mashinsky down, Do Kwon arrested, SBF close to prison time, when CZ?  

Do you really want CZ to get arrested? For what??

If the cryptocurrency is easily accessible in many parts of the world, is because of Binance. I don't know any other crypto exchange in the world who had done such a good job in making cryptocurrency easily available to a large portion of the population. Is this his crime?

Decentralized vs centralized debate doesn't always work when it comes to ground reality. Cryptocurrency is a complex stuff and still a huge amount of crypto users are not very comfortable in using DEX. Also in P2P trade, users prefer to use CEX because of the KYC requirements and verifications involved in the process.

Now sure why you want CZ to get arrested! 

[Z-tight]

Do you really want CZ to get arrested? For what??

I believe that was partly a joke, but you cannot rule it out from happening. Before ftx, Celsius and Luna Collapsed, was there any reason to arrest sbf, Alex Mashinsky and Do Kwon? That was because their shady activities were hidden and it only became exposed when their platform bit the dust.

If the cryptocurrency is easily accessible in many parts of the world, is because of Binance. I don't know any other crypto exchange in the world who had done such a good job in making cryptocurrency easily available to a large portion of the population. Is this his crime?

Ftx was also a big exchange doing the same thing, before it was discovered that sbf was misappropriating the funds of his customers. BTC will be accessible with or without Binance; though i am not saying that cz is going to be arrested, neither am i saying that Binance is going to collapse, but it is clear that cz does too many shady stuffs and maybe it might get him and Binance in trouble someday, and people who keep their funds in Binance should better be prepared.

users prefer to use CEX because of the KYC requirements and verifications involved in the process.

Yes, users prefer centralized exchanges because of liquidity, 'convenience' and faster tx process, that's why they don't mind passing kyc on anti-privacy cex platforms, but it does not guarantee that funds are safu because they can be confiscated by the exchange because they have the keys. A good decentralized exchange like Bisq may not give users the advantages i just mentioned, but it gives them control, security and privacy.

[NotATether]

So Mashinsky down, Do Kwon arrested, SBF close to prison time, when CZ?  

Woah there. So you're just going to let Su Zhu and Kyle Davies walk away? 

[zasad@]

Former Celsius CEO Alex Mashinsky reportedly arrested
https://cointelegraph.com/news/celsius-ceo-alex-mashinsky-arrested

There are a few topics about Celsius and this PoS but I think that if the reports are confirmed, we need a topic for the celebration

The former CEO of now-bankrupt crypto lender Celsius, Alex Mashinsky, was reportedly arrested on the morning of July 13. The news broke minutes after the United States Securities and Exchange Commission filed a lawsuit against the crypto lender on the same day.

The former CEO was reportedly arrested after a probe into the company’s collapse, reported Bloomberg citing people familiar with the matter. The US Department of Justice indicted Mashinsky on charges of fraud and intention to manipulate the market.

Bloomberg source (might be paywalled)
https://www.bloomberg.com/news/articles/2023-07-13/sec-files-lawsuit-against-celsius-network-alex-mashinsky

Now, with a bit of luck, taking into account Celsius collapsed in June and FTX in November, then in a few months we might have another good piece of news.
So Mashinsky down, Do Kwon arrested, SBF close to prison time, when CZ?  

All scammers!
And to be honest, none of these people are in prison yet. Do Kwon and SBF are vacationing in good homes and if they start talking we will learn a lot of interesting facts about fraud and bribery, so these cases will last a very long time until they are forgotten.

[joniboini]

Also in P2P trade, users prefer to use CEX because of the KYC requirements and verifications involved in the process.

Do you mean trading in general? As far as I'm aware, CEX is not really the only option for P2P. If you're referring to Binance P2P and something similar, I guess they do offer some convenience but it is not a deal breaker if a user is looking for a P2P transaction. There are other ways to make sure you don't get scammed such as using a multi-sig wallet as an escrow and so on. CMIIW.

Before ftx, Celsius and Luna Collapsed, was there any reason to arrest sbf, Alex Mashinsky and Do Kwon? That was because their shady activities were hidden and it only became exposed when their platform bit the dust.

I won't be surprised if they charge him with similar issues like inappropriate funds management and so on. The unfortunate news is that they have to 'wait' for the company to go bankrupt before giving any charge. Do they have no data before? It would be cool if any abuse is prevented for the users imo.

[stompix]

Do you really want CZ to get arrested? For what??
Now sure why you want CZ to get arrested! 

Because he's the most anti-bitcoin person with some kind of power in the Cryto universe.
Because he is lying continuously about his license, about his #safu fund, about everything he can, he will lie he is fleeing a country and threating journalists with lawsuits right on his plane.
Because he is doing everything he can to hurt Bitcoin, by asking for higher fees for segwit, for asking enormous fees for the real chain, for promoting his own tokenized version, for not thinking a second before doing anything to hurt it, like the bullshit about halting withdrawals during the last mempool clog, like saying they should rewrite the chain to get hi stolen funds back, everything!

If the cryptocurrency is easily accessible in many parts of the world, is because of Binance.

BS!. Everywhere you go there is an alternative to Binance, Bitcoin did great even in 2017 when Binance was just launched so let's stop praising this pos!

I believe that was partly a joke

No, it was not!

Woah there. So you're just going to let Su Zhu and Kyle Davies walk away? 

They ignored subpoenas in the bankrupcies case, now it's up to an investigation into that, they think that outside US jurisdiction and US extradition treaty, there is a safe haven, and they are far more likely to end up in prison when the wheels start moving than even SBF.
I'm a little concerned about them because unlike the others they are not only scammers but also stupid ones!

[SamReomo]

Former Celsius CEO Alex Mashinsky reportedly arrested
https://cointelegraph.com/news/celsius-ceo-alex-mashinsky-arrested

There are a few topics about Celsius and this PoS but I think that if the reports are confirmed, we need a topic for the celebration

The former CEO of now-bankrupt crypto lender Celsius, Alex Mashinsky, was reportedly arrested on the morning of July 13. The news broke minutes after the United States Securities and Exchange Commission filed a lawsuit against the crypto lender on the same day.

The former CEO was reportedly arrested after a probe into the company’s collapse, reported Bloomberg citing people familiar with the matter. The US Department of Justice indicted Mashinsky on charges of fraud and intention to manipulate the market.

Bloomberg source (might be paywalled)
https://www.bloomberg.com/news/articles/2023-07-13/sec-files-lawsuit-against-celsius-network-alex-mashinsky

Now, with a bit of luck, taking into account Celsius collapsed in June and FTX in November, then in a few months we might have another good piece of news.
So Mashinsky down, Do Kwon arrested, SBF close to prison time, when CZ?  

All scammers!
And to be honest, none of these people are in prison yet. Do Kwon and SBF are vacationing in good homes and if they start talking we will learn a lot of interesting facts about fraud and bribery, so these cases will last a very long time until they are forgotten.

Very true indeed! They all are known for their scams and still no body is going to do anything against them. They are enjoying their lives even after destroying the lives of many innocent users which invested their money into those shady businesses.

Tera Luna was the worst disaster of the year and that dam thing caused huge liquidations within a week only. Do Kwon should be charged with so sanctions but still no good action against that culprit. The system is known to punish poor people only and the ones with huge sums of black money will never be punished.

[avikz]

users prefer to use CEX because of the KYC requirements and verifications involved in the process.

Yes, users prefer centralized exchanges because of liquidity, 'convenience' and faster tx process, that's why they don't mind passing kyc on anti-privacy cex platforms, but it does not guarantee that funds are safu because they can be confiscated by the exchange because they have the keys. A good decentralized exchange like Bisq may not give users the advantages i just mentioned, but it gives them control, security and privacy.

In p2p trading, bank transfers are involved. Unless you share your bank details to the buyer, he won't be able to transfer the fund. And the moment you provide your bank details, your privacy is gone. So in DEX environment, P2P trading has no privacy. Personally, I will prefer to receive funds from someone verified by the exchange rather than someone random over the internet. DEX is good for coin swapping or other stuffs, not for P2P for sure!

Do you really want CZ to get arrested? For what??
Now sure why you want CZ to get arrested! 

Because he's the most anti-bitcoin person with some kind of power in the Cryto universe.
Because he is lying continuously about his license, about his #safu fund, about everything he can, he will lie he is fleeing a country and threating journalists with lawsuits right on his plane.
Because he is doing everything he can to hurt Bitcoin, by asking for higher fees for segwit, for asking enormous fees for the real chain, for promoting his own tokenized version, for not thinking a second before doing anything to hurt it, like the bullshit about halting withdrawals during the last mempool clog, like saying they should rewrite the chain to get hi stolen funds back, everything!

Just one reaction - 

[ImThour]

They have also got fined for staggering $4.7 billion USD. This is a big fine lol.

when CZ?  Bro why do we even want the biggest Crypto exchange to collapse? What it has done wrong to you? I mean it is a great platform for beginners to buy their first Crypto.
Collapse of Binance will remove the whole trust of Crypto and I don't understand why you want that to happen. Million dollars are being invested by Mining companies and other ventures into crypto, Web3 is growing and here some people on this forum just want Binance to shut down. Crazy.

[serveria.com]

Former Celsius CEO Alex Mashinsky reportedly arrested
https://cointelegraph.com/news/celsius-ceo-alex-mashinsky-arrested

There are a few topics about Celsius and this PoS but I think that if the reports are confirmed, we need a topic for the celebration

The former CEO of now-bankrupt crypto lender Celsius, Alex Mashinsky, was reportedly arrested on the morning of July 13. The news broke minutes after the United States Securities and Exchange Commission filed a lawsuit against the crypto lender on the same day.

The former CEO was reportedly arrested after a probe into the company’s collapse, reported Bloomberg citing people familiar with the matter. The US Department of Justice indicted Mashinsky on charges of fraud and intention to manipulate the market.

Bloomberg source (might be paywalled)
https://www.bloomberg.com/news/articles/2023-07-13/sec-files-lawsuit-against-celsius-network-alex-mashinsky

Now, with a bit of luck, taking into account Celsius collapsed in June and FTX in November, then in a few months we might have another good piece of news.
So Mashinsky down, Do Kwon arrested, SBF close to prison time, when CZ?  

Unlike these guys, CZ is not a criminal. He didn't steal anyone's money and run away with it. All he did, he refused to ban Russian users when the US requested it. He immediately got some ridiculous claims of breaking some rules in the US. But you know what? Binance can close the US business completely and still survive it. Have you heard about "too big to fail"?

[Fivestar4everMVP]

Unlike these guys, CZ is not a criminal.

LOL you must be joking. In crypto, like many industries, you're only a criminal if you get caught.

Well, good you said it yourself, "you are only a criminal if you get caught", so let's wait until CZ get caught before we declare him a criminal, for now, he is just like any of us, a crypto enthusiasts doing his part in promoting the industry as well as adoption through his chains of crypto focused businesses..

Like it or not, crypto through binance (CZ) have helped hundreds of people, if not thousands, make their first ever million dollars, and still, the man and the company still going strong, though not without challenges, which is a normal thing for any business that has become big with customers worldwide.

[SamReomo]

Unlike these guys, CZ is not a criminal.

LOL you must be joking. In crypto, like many industries, you're only a criminal if you get caught.

Well, good you said it yourself, "you are only a criminal if you get caught", so let's wait until CZ get caught before we declare him a criminal, for now, he is just like any of us, a crypto enthusiasts doing his part in promoting the industry as well as adoption through his chains of crypto focused businesses..

Like it or not, crypto through binance (CZ) have helped hundreds of people, if not thousands, make their first ever million dollars, and still, the man and the company still going strong, though not without challenges, which is a normal thing for any business that has become big with customers worldwide.

I agree with your statements, the CZ is not yet been proven guilty for his wrongdoings and all those allegations are useless if they can't show the true evidence that could prove that CZ has really done those fishy activities. The platform basically the Binance exchange has been helping a lot of crypto users, and even newbies can use that exchange whiteout any difficulty. 

I will not say that Binance is behind the growth of Bitcoin, but we still can't underestimate the role it has played for the crypto world. I'm not really sure that all those allegations against CZ are right or not, but I also believe that the guy is a Bitcoin enthusiast and a very sharp minded business man. I'm not going to favor him in anyway, but I can surely say that the Binance is a pretty useful platform for many users as of now.

[Wapfika]

They have also got fined for staggering $4.7 billion USD. This is a big fine lol.

when CZ?  Bro why do we even want the biggest Crypto exchange to collapse? What it has done wrong to you? I mean it is a great platform for beginners to buy their first Crypto.
Collapse of Binance will remove the whole trust of Crypto and I don't understand why you want that to happen. Million dollars are being invested by Mining companies and other ventures into crypto, Web3 is growing and here some people on this forum just want Binance to shut down. Crazy.

AFAIK, He is pertaining to CZ being anti-bitcoin and not Binance particularly since Binance can become Bitcoin friendly exchange if the owner is Bitcoin friendly itself. I understand the hate on CZ because I think the same way. CZ is full of lies and using social media including his sock puppet influencers to hype his exchange and to mind condition people to only believe with them. CZ is full of lies and self interest, Binance keep changing HQ location because they doesn't want to be fully regulate since they are hiding dirt on their exchange.

Post below is Stompix PoV to CZ.

Because he's the most anti-bitcoin person with some kind of power in the Cryto universe.
Because he is lying continuously about his license, about his #safu fund, about everything he can, he will lie he is fleeing a country and threating journalists with lawsuits right on his plane.
Because he is doing everything he can to hurt Bitcoin, by asking for higher fees for segwit, for asking enormous fees for the real chain, for promoting his own tokenized version, for not thinking a second before doing anything to hurt it, like the bullshit about halting withdrawals during the last mempool clog, like saying they should rewrite the chain to get hi stolen funds back, everything!

[Z-tight]

Have you heard about "too big to fail"?

Yeah, i have heard about it, and some people said the same thing about the exchanges that have collapsed before, so if you believe in this, i'm sorry there's nothing else i can tell you. No exchange is not too big to fail, not even Binance.

In p2p trading, bank transfers are involved. Unless you share your bank details to the buyer, he won't be able to transfer the fund. And the moment you provide your bank details, your privacy is gone. So in DEX environment, P2P trading has no privacy. Personally, I will prefer to receive funds from someone verified by the exchange rather than someone random over the internet. DEX is good for coin swapping or other stuffs, not for P2P for sure!

What you should share with your trading peer is just your name and account number, that is not enough to lose your privacy in my honest opnion, if you lose your privacy that way, you have lost your privacy for every incoming transaction into your bank account, because that is the information you must provide to receive funds into your account. This is different from submitting kyc on Binance where you may be required to provide so many info about yourself including your ID card, passport, selfie photo, etc, and they can request for additional data at anytime, and the worst part is this data can be leaked to the dark web anytime or be shipped to blockchain analysis companies or the government, that's how to lose privacy.

[suzanne5223]

There's no individual that didn't have a dark side but I honestly don't want CZ to arrest and I guess it's because of how he give to charity and also into something new into CEX.
I said this because 97% of all crypto project (including CEX) that was in existence since 2018 was guilty of false and misleading activities. I could remember in the year 2017 when most CEXs provide false market caps and trading volumes and from what I read the US SEC arrested  Alex Mashinsky due to a complaint from almost the inception of Celsius in 2018 and their earn interest program.

[mvdheuvel1983]

Now, with a bit of luck, taking into account Celsius collapsed in June and FTX in November, then in a few months we might have another good piece of news.
So Mashinsky down, Do Kwon arrested, SBF close to prison time, when CZ?  

I didn't follow the Celsius story actively but from the little I read at that time, it was all pains and sad stories from people who were victims. Every true Bitcoin believer should be glad that justice has been served. Although I doubt if the victims will get their money back , they will be happy that the person who caused them so much pain and suffering is not walking free and will face the full wrath of the law. I think that Celsius CEO Alex Mashinsky shouldn't be the only arrested because he didn't work alone. His other executives should also be arrested so that they can all face the music

And I say this with all boldness that  the long arm of the law will catch up with other Celsius like organizations very soon.