US District Judge sets former Celsius CEO's bail at $40 million.

BlockBeats News reported on July 14th that Alex Mashinsky, the former CEO of Celsius, was arrested on Thursday on charges of fraud and a US district judge set his bail at $40 million. According to court documents, Alex Mashinsky refused to plead guilty to seven charges of misleading investors and manipulating the price of the CEL token after his arrest. Under the agreement, Alex Mashinsky will be restricted from traveling and opening new bank or cryptocurrency accounts. His wife will also sign a bond. The court will also use his financial claims on his New York City residence and bank accounts as collateral.