Federal Judge Tightens Bail Conditions For Former Celsius CEO


August 10, 2023


Gabriel Negrín

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Alex Mashinsky, the former CEO of Celsius Network, has had his bail restrictions tightened by a federal judge. These modifications include electronic monitoring and limiting fund transfers of over $10,000 without court approval.

Mashinsky has pled not guilty to all securities fraud, commodities fraud, and wire fraud counts for allegedly misleading users. His bond now includes restrictions on his travel.

Typically, electronic monitoring involves wrist or ankle monitors. Former FTX CEO Sam Bankman-Fried is in a similar situation.

Ex-Celsius Chief Revenue Officer Roni Cohen-Pavon is also accused of connected offenses. Celsius declared bankruptcy in 2022, and the Federal Trade Commission fined them $4.7B.