đš Crypto News Flash! đš
Alex Mashinsky, founder of Celsius Network, is on trial in New York facing seven criminal charges, including wire and securities fraud. Celsius, once a major crypto lender, froze withdrawals for 1.7M customers in 2022, citing "extreme market conditions." Prosecutors allege misleading statements and market manipulation of its token, CEL.
đŒ Mashinsky's defense claims he acted in good faith and lacked criminal intent. Meanwhile, creditors are receiving up to 85 cents on the dollar, thanks to recent crypto market rallies.
What are your thoughts on this high-stakes trial? Comment below! đŹ