Celsius Founder Alex Mashinsky to Plead Guilty to Fraud

Alex Mashinsky, founder of the bankrupt cryptocurrency lender Celsius Network, plans to plead guilty to two counts of fraud related to commodities and market manipulation of the company's token, Cel. Initially indicted on seven counts, Mashinsky's plea comes after a series of crypto industry collapses in 2022, including Celsius's bankruptcy. The company, which filed for Chapter 11 in July 2022, was among the first to fall as crypto prices plummeted. Mashinsky's former colleague, Roni Cohen-Pavon, has already pleaded guilty and is cooperating with prosecutors.