Tag: BlockFI Lending

Crypto Court Season: Disgraced Celsius Founder Alex Mashinsky Sued For Crypto Fraud!

Court Cases tamir - January 7, 2023

She did it again! She is famous for going after crypto schemes and their operators. New York Attorney General Letitia James filed a civil lawsuit against Celsius Network founder Alex Mashinsky, alleging that he defrauded investors out of billions of dollars with his crypto lending scheme by hiding its true financial situation. Mashinsky allegedly continued to promote Celsius as a safe alternative to banks and paid up to 17% interest on deposits while already deep in shit!

U.S. crypto lender BlockFi to pay $100M to settle the regulatory case!

Crypto Schemes Ben - February 13, 2022

Bloomberg reported that the crypto lender BlockFi agreed to pay $100 million to settle allegations from the U.S. Securities and Exchange Commission (SEC) and state regulators that it illegally offered a product that pays customers high-interest rates to lend out their cryptos. The company has been under investigation since at least Nov 2021 over the lending product, which offers yields as high as 9.5%.

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