According to a recent report by the Financial Times, Celsius NetworkCryptocurrency lender customers, Alex Mashinsky, were found to have withdrawn $10 million from the platform to pay taxes before freezing their accounts and creating a massive shock wave in the market.
This fact, which emerged with the report, is a fact that has been demolished in the last few months. Alex Mashinsky It will be the beginning of much bigger problems for him. Mashinsky was one of the influential names of the crypto money world before all the events.
The most important question that arises with the report is, did Mashinsky have any information on whether customers’ accounts would be frozen before withdrawing the $10 million in question? So Mashinsky did this shoot in a planned way?
A spokesperson for Mashinsky claims there is another $44 million frozen on the platform.
Prominent cryptocurrency loan Celsius Network, one of its companies, suddenly announced the suspension of withdrawals at the beginning of June and came as a shock. Only a month later, the company filed for bankruptcy protection, making things even more complicated. It turned out that there was a $1.2 billion gap in the company’s balance sheet.
While it’s generally believed Celsius was one of the biggest casualties in the market crash that occurred in June, Vermont regulators recently claimed that the firm had long misled the industry about its financial condition, raising another big question mark. Although Mashinsky claimed the company was profitable last year, its financial situation was not clearly known to the company’s investors.
All these problems naturally resulted in the price crash of the native token CEL.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.