- Crypto influencer Simon Dixon is encouraging people to look forward to the next chapter of the Celsius Network.
- Dixon hopes that the arrest of founder Alex Mashinsky will lead to a better outcome for Celsius.
- Celsius Network’s native token CEL has gained more than 12% since Mashinsky’s arrest last week.
Crypto influencer Simon Dixon, who has gained popularity among the Celsius community on Twitter, believes that the arrest of founder and former CEO Alex Mashinsky will be a net positive for the Celsius Network. Dixon has encouraged the victims and stranded users of the bankrupt crypto lender to look forward to the next chapter.
Dixon’s comments came less than a week after Alex Mashinsky’s arrest in New York. During a recent Twitter spaces session, the crypto influencer discussed the recent developments in Celsius’ restructuring efforts and laid out what could be expected in the weeks to come. He believes that Mashinsky’s arrest brought the Celsius community closer and will lead to more productivity in terms of rebuilding the platform.
Simon Dixon has been instrumental in updating the crypto community with every development regarding the Celsius Network ever since it filed for Chapter 11 bankruptcy in July last year. Dixon was also involved with Fahrenheit LLC, a consortium of investors featuring Arrington Capital and Coinbase, who placed a successful bid for the defunct crypto lender’s assets last month.
The United States Department of Justice charged Celsius founder Alex Mashinsky with seven criminal counts, including securities fraud, commodities fraud, and wire fraud. The Justice Department also accused him of manipulating the price of the network’s native token CEL. Mashinsky has pleaded not guilty to the fraud charges filed against him.
Data from CoinMarketCap shows that CEL surged by more than 12% since Mashinsky’s arrest on July 13, 2023. The hours following his arrest saw CEL’s trading volume skyrocket by more than 200% as traders rushed to buy the token in anticipation of a rally. At the time of writing, CEL was trading at $0.167, with a market capitalization of $39.5 million.
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