Alex Mashinsky’s Bail in Celsius Case Set at $40M, Travel Restricted

Bail for Alexander Mashinsky, founder and former chief executive of bankrupt crypto lender Celsius, has been set at $40 million by a U.S. District Judge after he was arrested Thursday on charges of fraud.

Mashinsky pleaded not guilty to seven counts, relating to misleading investors and manipulating the price of his CEL token after being arrested on Thursday, the court document said.

Mashinsky will be restricted from traveling and cannot open new bank or crypto accounts under the deal. His wife will sign the bond, while the other co-signee has not yet been identified, court documents revealed. The bond will also be secured by a financial claim on his New York City home and bank account.

Source: Alex Mashinsky’s Bail in Celsius Case Set at $40M, Travel Restricted