Celsius Crypto Lender Exec Pleads Guilty, Will Assist US Probe
Roni Cohen-Pavon, the former chief revenue officer of cryptocurrency lender Celsius Network, has pleaded guilty to charges of manipulating the price of the exchange's crypto token Cel. He has agreed to cooperate with prosecutors' investigations and testify in court if called upon. Cohen-Pavon's guilty plea comes after he and Celsius Network's founder, Alex Mashinsky, were charged with market manipulation and wire fraud. Mashinsky pleaded not guilty and was released on bond. The collapse of Celsius Network, along with other cryptocurrency bankruptcies, occurred as crypto prices fell and customers withdrew their funds. Cohen-Pavon's sentencing is scheduled for December 11, 2024.