Key points to remember
- Celsius has announced that one of its employees is under investigation for activity unrelated to the company.
- Although Celsius has not disclosed the employee’s name, CFO Yaron Shalem is likely the person in question.
- Shalem was involved with crypto entrepreneur Moshe Hogeg, who was arrested this month for fraud and assault.
Share this article
Celsius’ chief financial officer, Yaron Shalem, has reportedly been arrested in Israel on charges relating to activities outside the company.
Celsius employee under investigation
Thursday, Celsius tweeted that he was “recently made aware of a police investigation in Israel involving an employee.” She added that this event was unrelated to the employee’s work at Celsius and none of her funds were affected. The company also said it immediately suspended the employee.
Although Celsius did not name the employee, most believe the accused was the company’s chief financial officer, Yaron Shalem.
Celsius has repeatedly refused to confirm that Shalem was the employee in question. However, some noted that the company deleted Shalem from his team page, presumably confirming the identity of the employee suspended by omission.
Shalem was linked to Moshe Hogeg
Shalem is likely one of eight people arrested and investigated in connection with Moshe Hogeg, who was stopped on charges of fraud, money laundering and sexual assault last week.
Hogeg is best known as the founder of crypto phone company Sirin Labs. He also ran a venture capital firm called Singulariteam, where Shalem was CFO for several years. Celsius CEO Alex Mashinsky was previously involved with Sirin Labs as an advisor, but does not appear to be under investigation.
Earlier this week, Celsius announced that it had extended its latest funding round to $ 750 million. It also plans to invest and diversify into mining alongside its main crypto lending service.
Disclosure: At the time of writing, the author of this article had less than $ 100 worth of BTC, ETH, and altcoins.
Celsius to invest $ 300 million in Bitcoin mining
Cryptocurrency lender Celsius Network has invested additional funds in Bitcoin mining, according to statements by CEO Alex Mashinsky. Celsius has invested $ 500 million in mining Mashinsky told The Block on …
Crypto Lender Celsius Closes $ 400 Million Funding Round
Celsius Network joins a long list of crypto companies to announce a mega-increase this year. Loan company Celsius reaches $ 3 billion valuation Celsius closed a $ 400 million investment round on …
Guide to Yield Farming, Staking and Cash Extraction
Yield farming is arguably the most popular way to make crypto assets profitable. Essentially, you can earn passive income by depositing crypto into a cash pool. You can think of such cash …