Altcoin News - The founder of Celsius Mashinsky has admitted misleading users and processing CEL code prices.
- Celsius collapsed in 2022 led to more than $ 550 million of investor losses.
- Despite the legal problems, Celius’ Cel Token increased by 70 % after issuing judgments.
Former CEO Celsus Alexander Machinsky He may go to at least 20 years in prison after he admitted that he was guilty of managing a huge fraud plan that discourages thousands of investors.
Prosecutors claim that Machinski has irregularly spent the customer’s money, submitted false claims about the company’s financing, and manipulated the CEL code price to make more than $ 48 million for himself.
CELSISISIS, which was once considered an inauguration of an investor, collapsed in 2022. The subsequent collapse left the amazing ordinary investors with total losses estimated at more than $ 550 million.
In December 2024, Machinski appealed to fraud regarding Celsius and the company’s manipulation. However, public prosecutors argue that he is still failing to accept full responsibility, and deviate from blame and hide assets in the family funds he controls.
Distinguished code, despite the legal defeat
In a dramatic development, Celsius symbol witnessed a dramatic increase in the wake of the ruling issuance. Cel jumped over 70 % in 24 hours, reaching the highest level ever at $ 0.1782 before stabilizing at about $ 0.15. The increase occurred even when Machinski faces the judgment of a New York Federal Judge.
Even with the last mutation, CEL is still lower than the height of 2021 at $ 8.02 – at the present time more than 98 % of this record. Analysts say the mutation may be the result of short -term noise or speculation trading, rather than a recovery mark.
The wholesale decision will establish an important precedent for accountability in the encryption industry.
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