Ex-Celsius CEO Fights Charge, First BTC Rent Agreement in Argentina, & BlackRock Kickstarts Bitcoin ETF Campaign
Summary:
Former CEO of Celsius, Alex Mashinsky, seeks dismissal of charges related to commodities fraud and market manipulation. In Argentina, a landlord and tenant sign a unique contract for rent payment in Bitcoin. Meanwhile, BlackRock, the investment giant, launches an ad campaign for its newly listed spot Bitcoin ETF, potentially targeting a wealthy, older demographic.
Attorneys for ex-Celsius chief Alex Mashinsky seek federal court approval to rescind charges of commodities fraud and market manipulation. In other news, a landlord from Argentina finalizes a contract with a tenant to accept rent payments in Bitcoin (BTC), and BlackRock, a preeminent investment firm, initiates a marketing blitz for its fresh off the shelf spot Bitcoin ETF, potentially courting the affluent older demographic.
Alex Mashinksky, founder and ex-CEO of the defunct crypto lending enterprise Celsius, is hoping to get two allegations against him dismissed. In a submission to the U.S. District Court for the Southern District of New York on Jan. 12th, the legal council of Mashinsky asked for two related felony charges of commodities fraud and market manipulation to be nullified. The document suggested the commodities fraud charge is in conflict and does not align with the initial charge of securities fraud.
The legal document argued that it's inconsistent and unreasonable to consider the Earn Program as a security under Count One and as a commodity under Count Two. Following his exit from Celsius in September 2022, Mashinsky was charged with seven felony counts the subsequent year. As of now, he is out on a $40 million bail. Celsius, Mashinsky's venture, was arguably one of the biggest cryptocurrency project failures in 2022.
In another news, a residential contract has been signed in Rosario, Argentina's third-largest city, wherein the tenant will pay the rent in Bitcoin (BTC). Notably, this is Argentina's first contract of this nature, courtesy of new changes to laws by the incumbent president. The amendments to the rental laws, and other facets of national legislation, have been brought about by the recently elected President Javier Milei. The monthly rent according to the agreement would be $100 worth of Bitcoin, transferred via Fiwind, a local cryptocurrency platform.
Meanwhile, BlackRock kickstarted its marketing efforts for its freshly minted spot Bitcoin Exchange Traded Fund (ETF). BlackRock, on Jan. 11th, launched a video presenting its iShares Bitcoin Trust ETF (IBIT). The video, which lasts over a minute and a half, features a BlackRock executive explaining the value proposition of Bitcoin and how investors can gain exposure through the new ETF. Amid the increasingly competitive Bitcoin ETF market, BlackRock aims to attract investors with its reputation and proven expertise in the ETF domain.
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Published At
1/15/2024 11:01:34 PM
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