Alex Mashinsky, former CEO and co-founder of Celsius Network, has been arrested and charged with fraud by the US Department of Justice, along with ex-chief revenue officer Roni Cohen-Pavon. The company is facing lawsuits from the US Securities and Exchange Commission and the US Commodity Futures Trading Commission for violating finance laws and misleading investors. Mashinsky has been charged on seven counts, including securities, commodities, and wire fraud, and several conspiracy-related allegations. Celsius, a crypto lending platform, filed for bankruptcy in July 2022, leaving customers with a billion-dollar deficit and frozen withdrawals. The company's unsustainable business model relied on high yields to attract investors, leading to significant losses and allegations of fraud.

Crypto lender Celsius has filed a lawsuit against liquid staking platform StakeHound for allegedly failing to return over $150 million worth of tokens, including ETH, MATIC, and DOT. Celsius had entrusted StakeHound with these tokens in exchange for stTokens.

According to lookonchain data monitoring: Celsius seems to start exchanging altcoins for BTC and ETH. Currently: Most altcoins have been transferred to wallet "0x4131". Transferred 1,393 StaFi( rETH ) to Wintermute Trading and received 1,393 ETH. $164.5 million worth of altcoins are held on the EVM chain.

According to sources familiar with the matter, the Commodity Futures Trading Commission (CFTC) has found that Celsius, a bankrupt cryptocurrency lender, and its former CEO Alex Mashinsky violated US regulations prior to the company's collapse. Bloomberg News reported on the CFTC's findings. 

July 4 (Cointime) - Crypto lending startups Celsius and Voyager have been given approval to shift their crypto holdings, but only Voyager has started doing so. Celsius had around $600 million in crypto, with 70% already in BTC and ETH, and has court approval to convert the remaining cryptocurrency into these two coins.

June 27 (Cointime) - The Cardano community is currently discussing the potential for a large sell-off of ADA by major platforms such as Robinhood and Celsius, which has raised concerns about a significant dump.

June 27 (Cointime) - Robinhood Markets and Celsius are set to sell off Cardano (ADA), Solana (SOL), and Polygon (MATIC) cryptocurrencies. Robinhood will sell these assets on June 27th, while Celsius will gradually liquidate its holdings starting July 1st. This move comes after Robinhood announced the end of support for these cryptocurrencies due to the US SEC lawsuits against Binance and Coinbase. Robinhood is also laying off 150 employees, or 7% of its workforce, due to reduced trading volume. The prices of ADA, SOL, and MATIC have dropped since these announcements.

June 15 (Cointime) - Crypto lender Celsius has submitted a revised bankruptcy filing to a New York court after being acquired by Fahrenheit. The new plan involves selling all altcoins from customers (excluding Custody and Withhold accounts) and converting them into Bitcoin and Ethereum from July 1. However, the restructuring proposal may face opposition from borrowers who object to Celsius demanding repayment of loans without fulfilling contractual obligations to return collateral. Celsius has also requested permission to appoint Chris Ferraro as foreign representative for the UK, to safeguard assets there and acknowledge the US Chapter 11 as the "foreign main proceedings".

June 14 (Cointime) - Open Exchange (OPNX) has announced that it will now accept claims from the Celsius bankruptcy proceedings through its partner, Heimdall. Claim holders can have their claims turned into tokenized assets, which can be traded as liquid assets. This move comes as a response to the failures that led to the 2022 crypto crash, which exposed deep cracks in a system that was supposed to be decentralized and trustless. 

OPNX has announced that Celsius claims trading is now live on their public orderbook. Celsius users can now onboard and tokenize their claims, unlocking frozen capital and either sell them directly into crypto, use them as futures collateral, or hodl claims tokens to use anytime.