Legal Developments: Assets Frozen for Former Celsius CEO, Bail Appeal Deemed "Meritless", and Grayscale Asserts Legal Grounds for Bitcoin Fund Conversion.
Summary:
U.S. courts freeze assets of former Celsius CEO Alex Mashinsky, prosecutors deem former FTX CEO Sam Bankman-Fried's appeal "meritless", and Grayscale asserts legal grounds to proceed with Bitcoin fund conversion to an ETF.
Former Celsius CEO Alex Mashinsky has had his financial assets frozen by U.S. courts, following his arrest in July on charges of misleading investors and defrauding users. Mashinsky's bank accounts and real estate assets, including a property in Texas, have been subject to a restraining order. Meanwhile, prosecutors have deemed former FTX CEO Sam Bankman-Fried's appeal against his bail revocation as "meritless." The appeal was made after Bankman-Fried was found to have violated court orders by attempting witness tampering. Lastly, Grayscale has informed the U.S. securities regulator that there are no legal grounds to continue blocking its Bitcoin fund conversion to an ETF, following a recent court loss. Grayscale's lawyers have requested a meeting with the SEC to discuss the next steps.
Published At
9/6/2023 6:06:11 PM
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