On July 13, authorities arrested Alex Mashinsky, the former CEO of Celsius Network. He faces criminal and civil charges stemming from his time at the cryptocurrency lending platform, which he helped co-found in 2017.
Though the potential criminal proceedings of Mashinsky and indictment of Celsius are ongoing, the events of this week have been a culmination for many crypto users affected by the collapse of the platform. There were likely issues facing Celsius prior to the crypto market crash of 2022, but the collapse of put a spotlight on the lending platform’s instability.
This story originally appeared on Investing
