NY just dropped the hammer on Mashinsky – PERMANENT ban from crypto
Settles the 2023 fraud case where he allegedly lied to investors about Celsius being "safe" while it was bleeding out
This is on TOP of:
• Federal penalties already stacking
• 12-year prison sentence
The regulatory playbook is clear: lie about solvency, get wrecked on every level
Celsius collapse was a masterclass in what NOT to do. Yield promises were unsustainable, risk management was a joke, and retail got exit liquidity'd
If you're still parking funds in centralized platforms offering sus yields, you're ngmi
Settles the 2023 fraud case where he allegedly lied to investors about Celsius being "safe" while it was bleeding out
This is on TOP of:
• Federal penalties already stacking
• 12-year prison sentence
The regulatory playbook is clear: lie about solvency, get wrecked on every level
Celsius collapse was a masterclass in what NOT to do. Yield promises were unsustainable, risk management was a joke, and retail got exit liquidity'd
If you're still parking funds in centralized platforms offering sus yields, you're ngmi