Urgent! Regulator Issued Summons To Celsius & Former CEO Celsius Mashinsky!

<p>&nbsp;The United States Securities and Exchange Commission (SEC) has sued bankrupt crypto-lending company Celsius Network and the company's founder and former CEO, Alex Mashinsky, according to a court filing on Thursday.</p><p><br /></p><p>Following the court filing, Alex Mashinsky was arrested Thursday morning following an investigation into the company's collapse, Bloomberg reported citing sources familiar with the case.</p><p><br /></p><p>According to a lawsuit filed on July 13, the US SEC charged Celsius Network and former CEO Alex Mashinsky with fraud, market manipulation, and violations of securities laws.</p><p><br /></p><p><br /></p><p>Apart from the US SEC, other bodies such as the Department of Justice (DOJ), the Commodity Futures Trading Commission (CFTC), and the US Federal Trade Commission (FTC) are also suing Celsius Network and former CEO Alex Mashinsky with separate lawsuits.</p><p><br /></p><p>These lawsuits add to a series of challenges facing Celsius Network, which earlier this year was also sued by the New York attorney general. Former CEO Alex Mashinsky was detained by authorities on Thursday morning as various agencies sued him and the company.</p><p><br /></p><p>The crypto industry has been in turmoil after the SEC's lawsuit against major crypto exchanges Binance and Coinbase last month raised the risk of further regulatory challenges for the sector.</p>