Celsius Network and Former CEO Face Potential Legal Action By US Regulators
Portfolio Pulse from Murtuza Merchant
The Commodity Futures Trading Commission (CFTC) has found that Celsius Network (CRYPTO: CEL) and its former CEO, Alex Mashinsky, violated U.S. regulations. If the CFTC's commissioners agree, a lawsuit could be filed in federal court. Celsius Network, which collapsed following the downturn of the TerraUSD (CRYPTO: LUNA) token and the crypto market, is accused of misleading investors and failing to register with the regulatory body. Legal action has already been taken against Celsius and Mashinsky, including a lawsuit from New York Attorney General Letitia James.
July 06, 2023 | 1:11 pm
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Binance Holdings Ltd. is also facing cases brought by U.S. authorities against crypto firms.
The mention of Binance Holdings Ltd. in the context of cases brought by U.S. authorities against crypto firms could potentially negatively impact the company.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 30
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Celsius Network faces potential legal action by US regulators, which could further impact its already collapsed status.
The potential legal action and the previous collapse of the company due to the downturn of the crypto market could further negatively impact the company's status.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100
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The collapse of the TerraUSD token contributed to the downfall of Celsius Network.
The collapse of the TerraUSD token was a contributing factor to the downfall of Celsius Network, which could negatively impact the token's status.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50