SNEAK PEEK:
- Alex Mashinsky, the Celcius network’s former CEO, traded 90,000 $CEL tokens for 480,000 $USDC.
- Users suggest that Mashinsky’s actions may be more complex than they appear.
- Treutler highlighted his concerns over Mashinsky’s sale of the CEL token.
According to a recent alert from a Twitter personality, PeckShieldAlert, an address labeled to Alex Mashinsky, the ex-CEO of Celcius network, is purported to have sold 90,000 $CEL tokens for 480,000 $USDC in the past four days. Further, the funds were transferred to Coinbase, with a current value of $474,700.
#PeckShieldAlert Alex Mashinsky-labeled address sold 90k $CEL for 480k $USDC in the past 4 days & transferred them to Coinbase (w/ $474.7k)
These $CEL originated from 0x4833, which received 90k $CEL (valued at $5.3k on the day of transfer) from Celsius Network Wallet 4 years ago pic.twitter.com/n0uJMlVmhp— PeckShieldAlert (@PeckShieldAlert) February 14, 2023
Based on the reports, these $CEL tokens originally came from 0x4833, which received 90,000 $CEL tokens valued at $5,300 on the day of transfer from Celsius Network Wallet four years ago.
Moreover, PeckShieldAlert uploaded a pictorial demonstrating the addresses to which Mashinsky sent the CEL tokens in support of their assertions. The visual shows the movement of funds from the original address labeled Alex Mashinsky to several other addresses before ultimately being transferred to Coinbase.
On the other hand, Mashinsky’s latest transaction has piqued the interest of a significant number of people in the cryptocurrency world. Users have hypothesized that Mashinsky’s behaviors might not be as straightforward as they appear to be on the surface.
Additionally, In October 2020, Treutler, a senior token analyst for Celcius Network, expressed his reservations over Mashinsky’s selling of the CEL token. Treutler speculated that at the time, Mashinsky was the largest seller of $CEL tokens and that his sales were weighing down the market.
