The following article will explore the downfall of Celsius and the arrest of its former CEO on federal securities fraud charges. As investors seek secure options, the focus turns to $QUBE tokens by InQubeta, offering fractional investment in AI startups, harnessing the potential of AI and crypto technology.
Bankrupt Celsius To Repay $4.7 billion debt
Alex Mashinsky, the former CEO of Celsius, was apprehended on federal securities fraud charges following the downfall of the crypto exchange, which has now reached a settlement of $4.7 billion with the Federal Trade Commission (FTC). The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission have also filed lawsuits against Celsius and Mashinsky, alleging their involvement in deceiving investors out of billions of dollars.
The charges against Mashinsky include securities fraud, commodities fraud, wire fraud, securities manipulation, and various other fraud-related offenses. If convicted, both Mashinsky and co-defendant Roni Cohen-Pavon could face lengthy prison sentences.
The FTC’s settlement with Celsius is among the largest in its history, almost comparable to the record-breaking fine imposed on Meta in 2019. The settlement highlights the repeated deceptive practices employed by Celsius and Mashinsky.
The FTC has accused Mashinsky of misrepresenting the safety of Celsius’ yield-generating activities, its profitability, the sustainability of high rewards rates, and the risks associated with depositing crypto assets with the exchange. Similarly, the SEC alleges that Celsius and Mashinsky misled investors and manipulated the price of Celsius’ exchange token, CEL. The company supposedly misrepresented its business model and risks to investors, falsely claiming it avoided risky trading and paid most but not all of its revenue to investors.
InQubeta: Bridging the Gap Between AI Startups and Investors
Despite the troubling news surrounding Celsius, investors seeking to strengthen their crypto portfolios have an attractive alternative in the form of $QUBE tokens offered by InQubeta.
InQubeta is a pioneering crypto crowdfunding platform that facilitates fractional investments in AI startups using $QUBE tokens.
The $QUBE token, built on the Ethereum blockchain, presents a unique investment opportunity for crypto enthusiasts looking to diversify their portfolios. As a deflationary token, $QUBE benefits from a 2% buy and sell tax that goes to a burn wallet, boosting its value over time. Moreover, a 5% sell tax contributes to a dedicated reward pool, allowing investors to earn rewards by staking their tokens.
InQubeta’s NFT marketplace plays a key role in the investment process. AI startups create reward and equity-based NFTs that are listed on the marketplace. Investors use $QUBE tokens to purchase NFTs, supporting startups and becoming entitled to rewards and equity associated with their NFT holdings. This innovative system fosters a mutually beneficial ecosystem for both startups and investors while leveraging the transparency and security of blockchain technology.
Moreover, $QUBE token holders also have a voice in the platform’s decision-making processes through its governance system. Proposals for improvements and changes can be submitted and voted upon by token holders, creating a more democratic and community-driven ecosystem.
With the intersection of AI technology and crypto presenting a unique growth opportunity, InQubeta’s $QUBE tokens offer an accessible and transparent means of investment, contributing to the advancement of AI technology and its potential to impact various aspects of society positively.
Amidst the crypto turmoil, $QUBE tokens present an attractive and secure investment option. With its deflationary model and transparent governance, InQubeta’s platform empowers investors to be part of the AI technology revolution while enhancing their crypto portfolios.
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