In a recent report, investigators from the Commodity Futures Trading Commission (CFTC) have concluded that Celsius, a bankrupt crypto lender, and its former CEO Alex Mashinsky violated U.S. regulations leading up to the company’s collapse. The findings suggest that Celsius misled investors, failed to register with the appropriate regulator, and that Mashinsky breached multiple regulations.
According to Bloomberg’s sources familiar with the matter, the CFTC’s enforcement division attorneys uncovered evidence indicating wrongdoing by Celsius and Mashinsky. If the majority of CFTC commissioners support these conclusions, the commission could initiate legal proceedings against the collapsed crypto lender in federal court later this month.
The investigation remains ongoing, and additional information will be provided as it becomes available.
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