CEL Exploded 80% as US DOJ Seeks 20-Year Sentence for Celsius Founder Mashinsky

TL; Dr

• The symbol witnessed an increase in sharp prices after the Ministry of Justice called for the severe prison sentence of the former CEO of Silicius Alex Machinski, accused of deception for years and mismanagement of financial behavior.
• The court session is scheduled for May 8.

Cel interacts with the request

The original symbol of CELSIUS – CEL – witnessed a sharp decrease In the past months, less than $ 0.06 has decreased earlier April Later It rises to about $ 0.08. Over the past 24 hours, it has seen an 80 % increase in prices, increasing to an increase of approximately 12 weeks. Later I lost some land and currently Trading about $ 0.14 (per Coingecko data), which represents an increase of 70 % on a daily scale.

Despite the last increase, it is Stand away At the top of $ 8 was observed in June 2021. At that time, the market value of the assets provided $ 3.5 billion, while this is only $ 5.1 million.

The last rise of Celly follows the US Department of Justice (Doj) to request For a 20 -year prison sentence for former CEO Alex Machinski. The federal executive management of the US government described this as “a just a campaign that lasted for years of lies and self -dealing that was left in the wake of billions in losses and thousands of victims.”

The Ministry of Justice has also argued that Machinski distorted How to deal with CELSIUS Customer deposits, entity profitability, customer boxes risk non -moving loans and secret trading despite the promise that he will not do so.

The condemnation continued in allegations that the former CEO has dealt with CEL price by creating artificial demand, which allows him to profit by selling his personal hideout of symbols in inflated values.

“Machinski’s behavior made him rich at the expense of CELSIUS customers. When Celsius collapsed to bankruptcy, he wiped the savings of ordinary retail investors who entrusted their encrypted currency to the company based on Mashinsky’s lies.”

Ruling The former Celsius president is scheduled to be held on May 8. cradle A guilty on two charges of fraud: one of the fraud on goods and one of the fraud in securities. Acknowledgment of submitting false claims about “Kassab” to Silicius“ Program – Equipped by an estimated $ 48 million in this process.

Celsius

The CELSIUS network was once a prominent coding platform. In the summer of 2022, the company to stop Customer withdrawal, bodies, and transfers due to “maximum market conditions,“ Detecting serious liquidity issues. Soon after, the entity foot For bankruptcy of Chapter 11, a public budget hole of $ 1.2 billion and $ 4.7 billion will be revealed to users.

The following investigations showed that former CEO Macinski is supposed to be offended customer boxes and manipulated CEL. He was Arrest In July 2023 on charges of multiple fraud and then Absolute On a bond worth $ 40 million, guaranteed by his residence in Manhattan.

In November 2023, the Southern Banking Court in New York approved the reorganization plan, enabling the bankruptcy march from bankruptcy. A major The component of the program was to create a new entity of Bitcoin Mining, called INIC Digital, owned by Celsius creditors.

At the beginning of last year, the company Start Distributing more than 3 billion dollars in the cryptocurrency and fillets to the affected users as part of its restructuring plan. By the end of August 2024, Celsius was Glory Almost 93 % of the amount approved to more than 250,000 creditors in 165 countries. After a few months, the company Declare You plan to distribute an additional $ 127 million to creditors.