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Techub News reports that blockchain analytics company Chainalysis has had 15 of the charges against it dismissed in the Celsius bankruptcy lawsuit. However, one charge alleging its assistance and abetment in Celsius's controversial $3.3 billion audit has been retained. The lawsuit is related to the audit issues involved in the Celsius bankruptcy case. (Cointelegraph)
Techub News, according to Cointelegraph, U.S. authorities have discovered an additional $10 million in assets linked to Sam Bankman-Fried (SBF) this week, while former Celsius CEO stated that he will defend himself in the upcoming trial. Meanwhile, Washington state regulators have approved an operation ban on cryptocurrency ATMs. SBF has been convicted and is currently serving his sentence for the FTX exchange fraud case, and this discovery of assets is part of the authorities' ongoing efforts to trace his hidden funds. The former Celsius CEO faces multiple fraud charges, and his decision to self-represent has drawn attention from the legal community. Washington state’s move aims to curb the growing fraudulent activities involving cryptocurrency ATMs.
Techub News reports, according to Cointelegraph, that Celsius Network founder Alex Mashinsky has officially reached a settlement with the U.S. Federal Trade Commission (FTC). Under an order signed by Judge Denise Cote of the U.S. District Court for the Southern District of New York, Mashinsky is permanently banned from promoting any products or services used for depositing, exchanging, investing in, or withdrawing assets. The settlement stipulates that Mashinsky must pay a $10 million penalty, while the massive $4.72 billion judgment previously issued against him by the FTC is now largely "suspended." If Mashinsky is found in subsequent financial disclosures to have concealed significant assets, misreported asset values, or made any material omissions, the suspension will immediately be lifted, and the $4.72 billion judgment will become immediately due and enforceable. Earlier in May 2025, Mashinsky was sentenced to 12 years in prison after pleading guilty to commodity fraud and securities fraud. This settlement with the FTC resolves the major civil litigation portion he was facing.
Techub News, according to The Block, Celsius and Tether have reached a $299.5 million settlement, ending a year-long court battle. The dispute centered around allegations of improper Bitcoin liquidations by Celsius prior to its 2022 collapse. Celsius had accused Tether of improperly liquidating 39,542 Bitcoin before the stipulated 10-hour waiting period expired in 2022. The newly agreed settlement amount represents approximately 7% of the $4.3 billion compensation Celsius originally sought, concluding one of the final disputes in the company's three-year bankruptcy case. Celsius filed for bankruptcy in July 2022 with a $1.2 billion shortfall on its balance sheet. Former Celsius CEO Alex Mashinsky was sentenced to 12 years in prison in May this year after admitting to commodities fraud and a scheme to manipulate the price of Celsius' native token CEL.
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