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The Securities and Exchange Commission filed a lawsuit against Celsius founder and CEO Alex Mashinsky Thursday, alleging he he raised billions of dollars from investors through “unregistered and fraudulent” sales of crypto asset securities. The SEC also alleges that Mashinsky and Celsius “fraudulently manipulated” the price of Celsius’ native CEL token, according to a complaint filed in federal court in New York.Celsius filed for bankruptcy last July after freezing customer withdrawals and transfers amid a decline in the value of major cryptocurrencies, including bitcoin BTCUSD .
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