Fintech

Regulators allege Celsius made false claims to investors over firm’s financial health

Forty states are part of a multi-state investigation into Celsius selling products that might be unregistered securities and potential securities fraud and market manipulation

Vermont regulators alleged that bankrupt crypto platform Celsius Network, through its chief executive, Alex Mashinsky, made false and misleading claims to investors about the firm’s financial health even as it suffered huge losses.

The court papers filed last week cited an analysis by securities regulators from multiple states into Celsius’ preliminary internal financial records.

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