JUST IN: EX-CELSIUS CEO PLEADS GUILTY TO FRAUD CHARGES

Alex Mashinsky, the founder and former CEO of Celsius Network, has pleaded guilty to federal fraud charges. Specifically, he admitted to misleading customers about the business, engaging in commodities fraud, and manipulating the price of Celsius's proprietary crypto token, $CEL.

This plea was part of a case where Mashinsky faced charges for his role in the collapse of Celsius Network, a cryptocurrency lending platform that filed for bankruptcy in 2022. His actions included illegally manipulating the token's price while secretly selling his own tokens at inflated prices, which allowed him to pocket around $48 million before the company's bankruptcy.