Commodity Futures Trading Commission (CFTC) investigators have reportedly found that crypto lending platform Celsius Network violated US regulations before bankruptcy. These violations also implicated the firm’s former CEO, Alex Mashinsky, as reported by Bloomberg.
If the CFTC’s commissioners concur with the investigation’s findings, legal proceedings against Celsius and Mashinsky could commence within the month.
As Bloomberg reported, investigators have concluded that under Mashinsky’s leadership, Celsius misled investors and breached regulatory standards. These developments add complexity to the ongoing scrutiny around Celsius, which has been under fire from various quarters.
Former Celsius investors recently accused Wintermute, one of Celsius’s market makers, of market manipulation. According to the plaintiffs, Wintermute was allegedly involved in wash trading to artificially inflate Celsius’s trading volumes. The extent of Wintermute’s involvement with Celsius remains
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