Former Celsius Network CEO Alex Mashinsky has had his request to dismiss two fraud charges denied by a federal judge. The charges allege that Mashinsky manipulated the price of Celsius's native cryptocurrency, the CEL token, through artificial inflation tactics. US District Judge John G. Koeltl ruled that Mashinsky's legal arguments were either irrelevant or lacking merit. Mashinsky's defense argued that his actions could not violate both the Commodity Exchange Act and the Securities Exchange Act simultaneously, but the judge upheld that the charges under each law could proceed independently. Mashinsky, who faces multiple charges including wire fraud and market manipulation, could potentially be sentenced to 115 years if convicted on all charges. His trial began in September.



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