Alex Mashinsky, co-founder and former CEO of Celsius Network, has filed a motion to dismiss the securities fraud complaint filed by the New York State Attorney General, which seeks to compensate investors who lost money in the collapse of the crypto lender. Mashinsky argued that the products offered by Celsius were not securities or commodities and that the attorney general misunderstood Celsius's business and his role in it. He also blamed the collapse on the collapse of Terra and FTX. Celsius went bankrupt following the collapse of TerraUSD stablecoin, which wiped out over $40 billion in value.
