• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
Celsius

No! Judge Rejects Former Celsius CEO’s Attempt To Dismiss Fraud Charges

Christian Encila
by Christian Encila
9 months ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A former executive of a now-defunct cryptocurrency firm, Celsius Network, will have to continue to face his legal battle as a US federal court denied his motion to dismiss the charges against him.

It might seem only like a legal battle of a former crypto CEO but in the greater scheme of things, it’s a reflection of the saga of the government’s scrutiny on the digital currency industry.

Related Reading: $81k Bitcoin Sparks Frenzy – Google Searches Reach All-Time High

Motion Denied

The ex-CEO of Celsius Network, Alex Mashinsky, failed to convince a US federal judge to drop two counts of criminal charges against him relating to the manipulation of crypto prices and fraud.

Judge Rejects Ex-Celsius CEO’s Attempt to Drop Fraud Charges

The latest twist in the Celsius saga: Alex Mashinsky, former CEO of Celsius, just had his motion to dismiss key charges thrown out by a federal judge.

Mashinsky, who faces seven charges, tried to argue that two of… pic.twitter.com/oEa3SkFdHe

— IBC Group Official (@ibcgroupio) November 11, 2024

Judge John Koeltl of the US District Court for the Southern District of New York rejected Mashinsky’s motion asking the court to dismiss the two raps against him. Thus, Mashinsky will continue to face the seven complaints in relation to his role in Celsius in January 2025 — a setback that made it inevitable for Mashinsky to defend himself in court when the trial started.

Koeltl ruled that the crypto exec’s arguments to drop the cases were “either moot or without merit.”

Mashinsky’s Argument

Mashinsky’s lawyers argued that their client cannot be charged with violations of the Commodity Exchange Act and the Securities Exchange Act of 1934, saying the court is charging the former CEO with two charges for the same conduct.

Source: US District Court for the Southern District of New York

However, Koeltl disagreed with their argument, saying a conviction on violating the Securities Exchange Act would not mean that Mahinsky would be acquitted of violating the Commodity Exchange Act.

Mahinsky also claimed that the commodities charge is “legally insufficient”, explaining that the state prosecutors failed to sufficiently allege that the platform’s investors were depositing Bitcoin into a program that offered a weekly reward scheme. The federal judge argued that this argument is a factual question that “cannot be resolved” at this point in the case.

BTCUSD trading at $86,340 on the daily chart: TradingView.com

Koeltl also denied Mashinsky’s motion to dismiss market manipulation charges, saying it is “meritless”. The judge added that the US Court of Appeals for the Second Circuit has already ruled before that “open-market transactions that are not inherently manipulative may constitute manipulative activity when accompanied by manipulative intent.”

Celsius: Legal Woes

Celsius used to be a prominent crypto platform in the industry. Unfortunately, the firm collapsed in 2022 following the freezing of customer withdrawals. The company also filed for bankruptcy amidst the huge balance sheet deficit.

Related Reading: CryptoQuant CEO Predicts Bitcoin’s Next Big Move – And Hope He’s Wrong

As a result, the SEC charged Mashinsky with fraud and manipulating the market which caused the collapse of the crypto firm.

State authorities said that the crypto CEO deceived the investors and claimed that CEL, the firm’s coin, was safer than it was.

If convicted of all the seven charges, Mashinsky could spend 115 years in state prison. The former CEO has not yet pleaded not guilty to these charges.

Featured image from Public Policy Institute of California, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

BingX Debuts $WLFI Token with WLFI Listing Carnival

BingX Debuts $WLFI Token with WLFI Listing Carnival

1 hour ago
voyager-crypto-emirates-paiement-xrp-bitcoin

Emirates ouvre ses vols aux paiements XRP et Bitcoin

2 hours ago
Next Crypto to Explode Live News Today: Timely Insights for Chart Sniffers (September 2)

Next Crypto to Explode Live News Today: Timely Insights for Chart Sniffers (September 3)

11 minutes ago
Bitcoin Hyper ($HYPER) Live News Today: Latest Insights for Bitcoin Maxis (September 3)

Bitcoin Hyper ($HYPER) Live News Today: Latest Insights for Bitcoin Maxis (September 3)

11 minutes ago
Analysts Predict BTC to Hit $150K–250K – $HYPER Could Be the Next 1000x Crypto

Crypto Giants Predict BTC to Hit $150K–250K – Bitcoin Hyper the Next 1000x Crypto?

2 hours ago
emirates-crypto-pay-xrp-billets-avion-2026

Crypto et aviation : Emirates choisit le XRP pour 2026

3 hours ago

Premium Sponsors

Press Releases

  • Sun Yuchen

    Why has billionaire Sun Yuchen set his sights on Xiushan...

    11 minutes ago
  • AlloyX Merges with Solowin Holdings at $350 Million...

    2 hours ago
  • WinnerMining

    “Trump-Backed WLFI Booms — WinnerMining Cloud Mining...

    4 hours ago
  • Top 5 Most Profitable ASIC Miners in 2025: ROI Comparison

    18 hours ago
  • Bitget to Transfer 440 Million BGB to Morph Foundation...

    19 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.