Celsius' Alex Mashinsky responds to New York State lawsuit blaming him for the crypto lender's collapse
Former Celsius CEO Alex Mashinsky has filed a defense motion in the securities fraud action against him.
He also makes the case that yield-paying crypto “Earn” accounts are not securities if their returns are not linked to the performance of the company offering them.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.
“The complaint, which parrots misinformation on-line about Mashinsky and Celsius Network and borrows others’ baseless conclusions, demonstrates a fundamental misunderstanding of Celsius’s business, and Mashinsky’s role therein,” Mashinsky argues.The motion to dismiss also gives a glimpse into how Mashinsky sees theCelsius ran into trouble after last year's collapse of the TerraUSD stablecoin, which was pegged to the value of the U.S.
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