Celsius Token Spikes, CEO Sells?

We had a nice break from the constant Celsius/Three Arrows Capital/Voyager misery, but sometimes you just have to return to it. Adding to the suck going on for Celsius ($CEL.X), California’s Department of Financial Protection and Innovation issued a Desist and Refrain Order – basically telling Celsius, ‘You’re done here.’

On a positive note, though, Celsius’s token CEL has had a nice ride higher, following the rest of the market in a nice little pamp. So far this week, CEL is up over 30% and closed last week higher by 32%. CEL is up over +136% over the past four weeks. 

On a negative note for Celsius CEO Mashinksy, the Committee of Unsecured Creditors filed a statement with the court, highlighting their desire to investigate the CEO over alleged false claims that “their funds were safe, that Celsius had adequate capital reserves and robust risk management protocols and that users could withdraw their coins at any time.”

And something that might not show Mashinsky in a good light is a report from blockchain intelligence firm Nansen and Arkham Intelligence, which alleges CEL wallets linked to the Celsius CEO recently converted CEL into Ethereum ($ETH.X) during the recent spike. 

And small piece of ‘maybe’ positive news is Reuters report that Ripple (XRP.X) may be looking at acquiring Celsius’ assets.

As always, the Litepaper will update you as this drama continues to unfold. But thank God the bad news is (fingers crossed) at least slowing down. 

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