The former head of Celsius Network is said to have been arrested.
(Photo: Reuters)
new York The former head of insolvent crypto lender Celsius Network has been arrested, Bloomberg reports, citing a source. This was preceded by investigations into the collapse of the company.
Alex Mashinsky was arrested on Thursday morning. The US Securities and Exchange Commission filed a lawsuit against Mashinsky and the company on Thursday, according to court documents. Mashinsky’s attorney did not immediately respond to an email request from Bloomberg for comment.
Celsius filed for bankruptcy last summer. The company was among the largest crypto lenders. It promised its users returns of 18 percent and more if they lent their cryptocurrencies through the provider. The US company then lent the currencies to institutional investors, but also invested in risky tokens.
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