Executive speeches that emerged in the lawsuit filed by the US Securities and Exchange Commission (SEC) against Celsius revealed remarkable details about the CEL price.
Celsius and former CEO of crypto lending firm Celsius, which went bankrupt on July 13, SEC to Alex Mashinsky had sued. The details presented in the case file were chilling. in the file, Mashinsky and Celsius’s risk manager (CRO) Cohen-Pavo passed between WhatsApp while giving place to their speeches price manipulations His statements about him were remarkable.
Before the company went bankrupt October 30, 2021 During conversations based on history, the CEL price averaged $4.8 around and periodically was falling. Addressing this point, Cohen-Pavo reproached with the following statements:
A record number of new users join Celsius every day, but the CEL price continues to drop. The problem is that people are selling and no one is buying but us. The price is unrealistic and we had to spend millions of dollars just to keep the price at this point.
While sending these messages another Celsius manager and one with the market maker together to stabilize the price CRO, who does not hesitate to remind that they have made trades, to keep the price where it is. 8 million dollars a week He stressed that they spent around
In response to these messages, CEO Mashinsky’s response is more stunning it happened:
Is Dogecoin value real? What will the $5 billion market cap be for Solana? Everyone knows what the core of these tokens is, and if they buy these tokens, they buy them because they hope they will rise.
Continuing the conversation between the two Mashinsky, Cohen-Pavo’s Celsius In 2021 asked him to report how many CELs he bought from the market. In the report submitted by Pavo, Celsius’s 23 million extra CELs seen to be bought.
According to CoinGecko data CEL price from that date of 98% experienced a decline. CEL, at the time of writing from $0.18 is being traded.
SEC, Mashinsky illegal sale of cryptocurrencies thanks to billions dollar claimed to have collected In parallel with the case of the US regulatory agency, Mashinsky was arrested by law enforcement.