US CFTC May Sue Celsius And Former CEO Mashinsky Earlier This Month: Report

 and its former Mashinsky chief executive could face a lawsuit from the CFTC alleging violations of some US rules before the company’s collapse. With the conclusion, the agency could file a lawsuit in federal court as early as this month under US rules if a majority of the trustees uphold the finding. One of the people said that law enforcement attorneys have determined that Celsius misled investors and should have registered with the regulator and that former CEO Alex Mashinsky had also broken the rules.

According to May court filings, the Securities and Exchange Commission (SEC) and federal prosecutors from Manhattan have also launched a series of investigations into the company. Bloomberg notes that both the SEC and representatives of the United States Attorney’s Office for the Southern District of New York declined to comment on the status of the investigations. As of today’s update, the lending platform has taken steps to move around 74 million altcoins into Bitcoin (BTC) and Etherum (ETH) in a plan to refund users stuck on the platform. According to the balance sheet for April, the total altcoin sell pressure amounts to $279M.


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