Description
The SEC sues Celsius and its CEO Alexander Mashinsky, alleging Defendants raised billions of dollars from investors through unregistered and fraudulent offers and sales of crypto asset securities through its Earn Interest Program and sale of CEL tokens. SEC and Defendant Celsius were able to reach an agreement without further court intervention, but the action against Defendant Mashinsky was stayed due to Government intervention see USA v. Mashinsky.
Legal Significance
This case illustrates the potential liability that stems from offering unregistered securities in the form of tokens or yield bearing products.
Status
Settled
Case No.
1:23-cv-06005
Date Filed
July 13, 2023
Plaintiff
SEC
Defendant
Celsius Network LimitedAlexander Mashinsky
Court
USDC Southern District of New York
Plaintiff Counsel
James Patrick ConnorHarry Roback
Defendant Counsel
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