Alex Mashinsky, founder of now-bankrupt crypto firm Celsius, is arrested and charged with defrauding customers and lying about the firm’s business model.

Alex Mashinsky, the former CEO and founder of the now-bankrupt crypto firm Celsius, has been arrested on fraud charges, including wire fraud, commodities fraud, and manipulation of securities prices. Celsius, founded in 2018, once handled tens of billions of dollars in deposits before it declared bankruptcy last year.

Brrr, things are getting chilly for Alex Mashinsky, the former CEO and founder of the now bankrupt crypto firm Celsius. In a turn of events hot enough to melt your ice cream, he’s been arrested and slapped with charges for allegedly running a rather frosty scam. Charges against him include wire fraud, commodities fraud, and manipulation of securities prices. Oh, Alex, didn’t anyone tell you that honesty is the best policy?

Celsius, founded in 2018, was once a shining star in the crypto sky, promising sky-high interest rates and handling tens of billions of dollars in deposits before it hit the iceberg and sank last year. It seemed like a dazzling crypto bank, but as it turns out, it was more of a titanic disaster.

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