What happened to Celsius & its affiliates?

Meanwhile, the Federal Trade Commission announced a civil settlement with Celsius and its affiliates for $4.7 billion. Under the terms of the deal, the payment is suspended to allow Celsius, which filed for bankruptcy in July last year, to return money to its customers.

What happened to Celsius's 'cel' tokens?

Mashinsky and Roni Cohen-Pavon, Celsius’ chief revenue officer, were also charged with multiple counts of manipulating the price of the platform’s native crypto token, CEL, while they were offloading their own tokens at inflated prices.

Is Celsius a modern-day Bank?

“Mashinsky portrayed Celsius as a modern-day bank, where customers could safely deposit crypto assets and earn interest,” the indictment states.

What happened to Celsius & Mashinsky?

Celsius has entered into a non-prosecution agreement with the DOJ and settled with the Federal Trade Commission, which accused Mashinsky and two other former executives of tricking customers into putting crypto assets on the platform.