A wallet related to Celsius former CEO Alex Mashinsky reportedly sold 90,000 Celsius tokens (CEL) for $480,000, blockchain analytical firm Peckshield reported on Feb. 14.
The sold tokens originated from wallet “0x4833,” which received the assets directly from Celsius Network Wallet four years ago.
The sales appear to have negatively impacted the CEL token — dropping by roughly 4% in the last 24 hours to $0.51774 as of press time, according to CryptoSlate data.
The court-appointed independent examiner for Celsius said Mashinsky, and other top executives of the bankrupt firm, had benefitted from the sales of CEL tokens. The report said Mashinsky personally gained $68.7 million from the token sales.
(By Oluwapelumi Adejumo)
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