Celsius CFO Arrested in Israel, Company Suspends Employee
Main page News, business, Crypto Market, Money Laundering

Celsius Network has become the focus for media after CoinDesk reported the company's chief financial officer, Yaron Shalem, was arrested on money laundering and other charges. According to the report, Shalem was reportedly one of the seven people arrested in Tel Aviv "in connection with Israeli crypto mogul Moshe Hogeg."

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Shortly after the news broke, Celsius took Twitter to clarify that the investigation is "in no way related to the employee's time or work at Celsius Network." While no details were provided, Celsius said the employee "was immediately suspended."

"We have also verified that no assets were misplaced or mishandled," the company added.

Celsius Network is Accused of Violating the Securities Law

It remains unclear what charges Yaron Shalem has been arrested on. Shalem's arrest comes just a few weeks after Celsius Network acquired Israeli-based cryptocurrency custodian GK8 for $115 million. Earlier this year, the company also raised $400 million in a funding round led by WestCap, a growth equity firm, and Caisse de dépôt et placement du Québec (CDPQ), a Canadian pension fund. The latest investment round brought the company's valuation to $3 billion.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Read also:
Please describe the error