A court order in the lawsuits filed against Celsius Network and its former CEO, Alex Mashinsky, has been unsealed. The order was initially kept confidential due to concerns of potential asset depletion. In July, the U.S. Securities and Exchange Commission (SEC), Department of Justice (DOJ), Commodity Futures Trading Commission (CFTC), and Federal Trade Commission (FTC) all filed lawsuits against Celsius Network and Alex Mashinsky.
Previously, a federal judge granted a joint request from Mashinsky’s legal team and the DOJ to modify his bail conditions. The new conditions include electronic monitoring, and Mashinsky is now restricted from withdrawing, transferring, or receiving more than $10,000 without prior court approval. This modification eliminates the need to rely on his First Republic account for bond collateral.
Alex Mashinsky, who served as CEO of Celsius Network until September 2022, is facing charges of securities fraud, commodities fraud, and wire fraud. He is accused of misleading and defrauding users.
Following his arrest on July 13, Mashinsky pleaded not guilty to all charges but was subject to significant travel restrictions as part of his bail conditions.
Author: Ryan Scott
Just a guy
