SEC v. Celsius

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.

This case illustrates the potential liability that stems from offering unregistered securities in the form of tokens or yield bearing products.

1:23-cv-06005