The better the last quarter of 2024 was for cryptocurrencies, the worse the last quarter of 2022 was. Bankruptcies, which have accelerated since the second half of the year, caused especially altcoin investors to suffer huge losses. However, the revenge of those days is taken one after another. Another case has come to an end.
Celsius Collapse
Zhu Su was expecting a super cycle for 2022. Despite the Fed’s interest rate increases, there were cryptocurrency enthusiasts who expected a rise in cryptocurrencies. Moreover, they were managing billions of dollars of customer assets. SBF is a good example of this. But today’s topic is Alexander Mashinsky.
After his arrest on July 13 Celsius The founder pleaded guilty to articles 2 and 5 of the indictment, as required by the plea agreement. He was convicted of crypto fraud.
59-year-old Mashinsky predicted a collapse in cryptocurrencies at the beginning of 2022 and decided to sell many positions. It employed many analysts and traders. However, after the first quarter of 2022, it started to collect the assets it sold in anticipation of a much longer rally period in the markets. He gathered the powers of all analysts and traders and neutralized them, and while there were huge declines in cryptocurrencies, he was zeroing out client assets in high-risk positions.
Now cryptocurrency He is waiting for the punishment he will receive while the markets are running in the opposite direction. bankrupt CEL Although it is trying to start one of its speculative rises in June, when sales allegations were discussed, this seems like a weak attempt for now.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
