According to the Gate.io market, CEL has broken through $1.4 in the short term and is now priced at $1.406, with a daily increase of 32.63%. The market fluctuates greatly, so please be prepared for risk control.

CEL broke through $0.55, pumping more than 75% in 24 hours According to Gate.io market information, CEL broke through $0.55 and is now quoted at $0.5651, with a 24-hour pump of more than 75%. Previously, on May 2, Celsius Network announced the destruction of its 652.2 million CELs. The burn represents 94% of the total supply and is worth about $83.2 million at current market prices.

According to the market, the CEL broke through $0.57 and is now quoted at $0.5702, an intraday pump of more than 65%. Fluctuation in the market is large, please do a good job of risk control. Golden Finance previously reported that on May 2, Celsius Network announced the destruction of its 652.2 million CELs. The burn represents 94% of the total supply and is worth approximately $83.2 million at current market prices.

Gold Finance reported that according to market data, CEL is currently trading at $0.385, with a 155.5% increase in the past 6 hours and a 188.1% increase in the past 24 hours. The market is experiencing significant fluctuations, so please exercise caution in risk control.

Gold Finance reported that Celsius Network burned its CEL holdings (which account for the majority of the Token supply). Etherscan said it burned it by sending 652.2 million CEL to short Address. The burn accounted for 94% of the previous total supply, totaling 692.8 million CELs, worth about $83.2 million at current market prices.

Coin Network reports: Celsius loan creditors are unhappy with the restructuring plan proposed by bankrupt Crypto Assets lender Celsius (CEL), expressing concerns about its fairness and consideration of its claims. According to reports, these creditors believe that the restructuring plan is disproportionately biased in favour of some creditors over others, which could lead to lower recovery rates for loan service users. Creditors are considering appealing the current scheme due to perceived unfair treatment. They argued that the court's decision to spend $225 million on the company's capital instead of repaying the bonds was unjust.

PANews reported on February 22 that SBF appeared in court for the first time this Wednesday since being convicted of fraud last fall, according to CoinDesk. He said defense attorneys Mark Cohen and Christian Everdale, who represented him during last year's trial, would withdraw from his case. Newly hired lawyer Marc Mukasey will defend him next month. In November last year, SBF was convicted of seven different counts of fraud and conspiracy, and he will be sentenced at the end of March. It is reported that Mukasey also defended Alex Mashinsky, founder of Celsius, a Rekt crypto lender, who was charged by the U.S. Department of Justice with securities fraud, commodity fraud and conspiracy to manipulate CEL Token prices. Mashinsky will be put on trial this fall.

Sam Bankman-Fried, who made his first appearance in court on Wednesday local time after being convicted of defrauding FTX customers of billions of dollars, said that his trial lawyers Mark Cohen and Christian Everdale will exit the case, and newly hired lawyer Marc Mukasey will defend him next month. Mukasey is also reported to be on trial this fall on behalf of Alex Mashinsky, founder of Rekt Crypto Assets lender Celsius, who has been charged by the Justice Department with securities fraud, commodity fraud and conspiracy to manipulate CEL prices.

PANews reported on February 8 that, according to Cointelegraph, the U.S. government requested a hearing on the possible conflict of interest between former FTX CEO Sam Bankman-Fried (SBF) and former Celsius CEO Alex Mashinsky, both of whom were charged with fraud. In a Feb. 6 letter to the judge overseeing the SBF and Alex Mashinsky cases, prosecutors raised concerns about lawyers Marc Mukasey and Torrey Young, both of whom have filed notices to appear in the criminal case against the former Crypto Assets CEO. The U.S. government has requested a Curcio hearing, at which the judge may ask about potential conflicts of interest and why both lawyers were involved in both SBF and Mashinsky's case. "The trial evidence in this case shows that Celsius lent money to Alameda Research, which in turn used client funds to repay certain loans from Celsius," the letter said. The relationship between Alameda Research and Celsius has created potential conflicts on several fronts. The U.S. government noted that Mashinsky blamed the collapse of Celsius in part on FTX's sister company, Alameda Research, possibly for SBF's actions. However, prosecutors argued that the judge could waive potential conflicts of interest because they were "not that serious." SBF and Mashinsky may be asked if they are willing to give up the right to a "conflict-free proxy". "While Mashinsky's allegations may have helped his own defense, in SBF's case, SBF's alleged manipulation of the CEL may be additional and relevant conduct that the court may consider in SBF's sentencing," the letter reads. ” It is reported that Curcio hearings are used to ensure that defendants are aware of their rights when facing criminal charges and have the opportunity to be heard and defended.

Odaily Planet Daily reports that the criminal trial of former Celsius CEO Alex Mashinsky is scheduled to be held on September 17, 2024. Mashinsky was arrested in July this year. The U.S. SEC sued Celsius and Mashinsky, accusing them of raising billions of dollars in funds through fraudulent and unregistered sales of "crypto securities", repeatedly lying to investors about Celsius's financial status, and manipulating the price of Celsius' native token, CEL. The Commodity Futures Trading Commission (CFTC) also filed fraud charges against Mashinsky and Celsius. Celsius Chief Revenue Officer Roni Cohen-Pavon, who was also charged with criminal charges, reportedly pleaded guilty last month and agreed to cooperate with prosecutors in the Mashinsky case. (Bloomberg)

Golden Finance reported that data monitored by Whale_ showed that 184,348,917 CEL tokens were transferred from Celsius to an unknown wallet, worth US$25,432,535.

Odaily Planet Daily reported that Roni Cohen-Pavon, the former chief revenue officer of now-bankrupt crypto lending company Celsius Network, has pleaded guilty to four criminal charges, including manipulating the price of the platform’s token CEL. According to a copy of the plea agreement, Roni agreed to assist Manhattan U.S. The prosecutor's office and the FBI conduct investigations and testify when called upon. According to previous news, the U.S. federal government filed a lawsuit against former Celsius Network CEO Alexander Mashinsky and Celsius CRO Roni Cohen-Pavon. Mashinsky organized a fraudulent scheme designed to deceive Celsius customers and personally profit by manipulating the price of Celsius’ token, CEL.

Golden Finance reports that Alex Mashinsky, founder and former CEO of lending platform Celsius, sought in a court filing on Monday that the Federal Trade Commission (FTC) drop charges that he misled investors. Celsius filed for bankruptcy last year as the cryptocurrency winter approached, and in July this year Mashinsky, the co-founder of the lending platform, was charged with multiple crimes following a joint action by consumer protection agencies, the Department of Justice, and securities and commodities regulators. Arrested on charges including securities fraud and manipulation of CEL tokens. Mashinsky has pleaded not guilty to the charges, which his lawyers have called "baseless". Golden Finance previously reported that on September 6, Alex Mashinsky’s bank and real estate assets were ordered to be frozen.

Golden Finance reported that Keith, a volunteer analyst who assisted Celsius creditors in interpreting the company's financial and business documents, posted on the Screenshot of the WhatsApp conversation. The two executives admitted to spending more than $8 million per week to maintain the price of CEL. They also cooperated with KOL to increase the discussion heat of CEL in the encryption community. The final disclosure in Keith’s tweet concerns Alex Mashinsky’s alleged attempt to convert low-value assets held by users worth less than $10 into CEL tokens. Keith believes this practice mistakenly increases the number of customers for CEL holders.

Odaily Planet Daily News The New York Bankruptcy Court issued a judgment on Thursday that holders of Celsius native tokens have submitted claims to the court that CEL should be valued at the transaction price of $0.8 on the day the encryption lending platform filed for bankruptcy in July 2022 , the application was dismissed by the court. The court held that the transaction price did not reflect reality because the market for CEL was manipulated. Courts could even reduce its valuation even lower or even to zero, in line with what shareholders would expect in a bankruptcy situation. Celsius’s management proposed to value CEL at $0.25, as they wanted to wind down the company’s affairs as soon as possible, sell it to the cryptocurrency consortium Fahrenheit, and return funds to creditors. That valuation, which has risen from the previous $0.20, was approved by a judge last week in a disclosure statement related to Fahrenheit's sale. (CoinDesk)

According to news on August 25, Celsius Network’s native token holders recently tried to increase the valuation of CEL tokens, but failed. Holders of Celsius' native tokens have unsuccessfully argued that CEL should be valued at $0.80, the day the crypto lending platform traded for bankruptcy in July 2022, according to a New York bankruptcy court decision issued Thursday. Celsius' management proposed to value CEL at $0.25, as they wanted to wind down the company's affairs as quickly as possible, expedite the sale to the cryptocurrency consortium Fahrenheit, and return the funds to creditors. That valuation, itself already up from the previous $0.20, was approved by a judge last week in a disclosure statement related to Fahrenheit's sale.

According to PANews news on July 19, according to CoinDesk, a lawyer for the bankrupt encrypted loan company Celsius said that the XRP judgment may affect the pricing of CEL tokens, but it will not affect its restructuring plan. Last week, a court ruled that institutional sales of XRP were securities, drawing the attention of Judge Martin Glenn, who is hearing Celsius’s parallel bankruptcy proceedings. The law firm Kirkland & Ellis, representing Celsius, told the court that we believe the XRP judgment has no impact other than any impact it may have on the CEL token offering. The new company that will take over "does not engage in any securities offering, nor is it involved in any historical business conduct of Celsius". The Fahrenheit consortium recently won a bid for the Celsius asset and will focus on bitcoin mining and ethereum staking. But given that U.S. bankruptcy rules apply mandatory downgrades to customer claims related to securities, the XRP ruling could affect the repayment of funds for CEL holders.

According to PANews news on July 14, according to CoinDesk, after the former Celsius CEO Alex Mashinsky was arrested on fraud charges on Thursday, a U.S. district judge set his bail at $40 million. Following his arrest, Alex Mashinsky pleaded not guilty to seven counts related to misleading investors and manipulating the price of the CEL token, according to court documents. Under the agreement, Alex Mashinsky will be restricted from traveling and unable to open new bank or cryptocurrency accounts. His wife will sign the bond, with another co-signer yet to be identified, as well as financial claims on his New York City home and bank accounts. Alex Mashinsky vehemently denies the allegations against him and looks forward to vigorously defending himself in court against these baseless allegations, his lawyer said. According to previous news, Celsius and its former CEO were simultaneously accused by multiple regulatory agencies in the United States, and former Celsius Network CEO Alex Mashinsky was arrested.

Golden Finance reported that Celsius Network filed a huge claim of US$2 billion against FTX. According to Celsius, certain FTX users participated in suspicious transactions, which had a major impact on the price of Celsius Network CEL tokens in 2022. In June 2021, CEL rose from the ICO price of 30 cents to $8.02. After the market crashed the following year, by June 2022, CEL had fallen to 68 cents. Celsius Network creditors believe these manipulative trading activities played a role in the company’s downfall. By taking this legal action, Celsius Network aims to recover substantial funds, potentially mitigating losses suffered by creditors.

Small-cap Cryptocurrencies May Face Pressure as Bankrupt Celsius Sells Illiquid Assets: Kaiko Small-cap digital assets could face significant pressure if bankrupt crypto lender Celsius sells or converts its assets on reserve. Research firm Kaiko warns that the market for these digital assets, including Celsius' native token CEL, lacks liquidity, making it difficult to realize their value. The market depth for CEL tokens is limited, and the aggregated market depth for Celsius' altcoin holdings has decreased by 40% since last year. These liquidations could have a short-term impact on the crypto markets.

Market maker Wintermute is accused of helping former CEO of bankrupt crypto lending firm Celsius Network Alex Mashinsky defraud investors in a proposed class action, according to Bloomberg. Beginning in March 2021, Wintermute engaged in "wash trading" and other inappropriate activities to inflate the value of Celsius' native token, CEL, and loan products, according to the lawsuit. Mashinsky tried to shore up CEL after the collapse of Terra and Luna tokens in May 2022, but Wintermute also played a key role, investors said. However, a Wintermute spokesperson said "Wintermute vehemently denies any involvement in improper dealings."

According to PANews news on June 24, according to Bloomberg, the cryptocurrency market maker Wintermute was accused of helping former Celsius CEO Alex Mashinsky defraud investors in a class action proposed by Celsius investors. The lawsuit alleges that Wintermute has engaged in wash trading and other improper activities since March 2021 to inflate the value of Celsius's native token CEL and loan products. In an email, a Wintermute spokesman vehemently denied engaging in any improper dealings. On June 13, 2022, Celsius froze all accounts and filed for bankruptcy the following month.

According to news on June 24, cryptocurrency market maker Wintermute is accused in a proposed class action of helping former Celsius Limited CEO Alex Mashinsky defraud investors of his now-bankrupt crypto lending company. Wintermute conducted false trading and wash trading activities to drive up the price and trading volume of Celsius's token CEL. The class charges are understood to be unrelated to Celsius' bankruptcy. Wintermute denied all wrongdoing in a statement to Bloomberg.