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Alex Mashinsky, the founder and former CEO of cryptocurrency lender Celsius Network, pleaded guilty on Tuesday to two counts of fraud.

Mashinsky, 59, was indicted on July 13, 2023, on seven counts of fraud, conspiracy and market manipulation charges. Federal prosecutors in Manhattan said he misled customers of Celsius to persuade them to invest, and artificially inflated the value of his company’s proprietary crypto token. He pleaded not guilty later that day.

US District Judge John Koeltl in November denied a motion by Mashinsky to dismiss two criminal counts ahead of his trial, which had been slated for Jan. 28.

On Tuesday, during a hearing before Koeltl, Mashinsky said he agreed to plead guilty to two out of the seven counts he was initially charged with: commodities fraud, and a fraudulent scheme to manipulate the price of CEL, Celsius in-house token.

In court, Mashinsky admitted to giving Celsius customers false comfort by giving an interview in 2021 in which he said Celsius had received approval from regulators for its Earn program, which it had not.

He said he also failed to disclose that he had been selling his holdings of CEL, the platforms in-house token.

I know what I did was wrong, and I want to try to do whatever I can to make it right, Mashinsky said.

As part of his plea deal with prosecutors, Mashinsky agreed not to appeal any sentence of 30 years or less – the maximum he faces for the two counts. Koeltl is set to sentence him on April 8, 2025.

Federal prosecutors in Manhattan have said Mashinsky also personally reaped approximately $42 million in proceeds from selling his holdings of the Cel token.

“Mashinsky made tens of millions of dollars selling his own CEL at artificially high prices, while his customers were left holding the bag when the company went bankrupt,” Damian Williams, the U.S. Attorney in Manhattan, said in a statement on Tuesday.

Before pleading guilty, Mashinsky had been scheduled to go on trial on Jan. 28.

“Sometimes, accepting responsibility when and where appropriate is the best way to help everybody move on,” Mashinsky’s defense lawyer Marc Mukasey told reporters after the hearing on Tuesday.

Founded in 2017, Celsius filed for Chapter 11 bankruptcy protection in July 2022 after customers rushed to withdraw deposits as crypto prices fell. Many were initially unable to access their funds. The company exited bankruptcy on Jan. 31, and has pivoted to Bitcoin mining.

Crypto lenders such as Celsius grew rapidly as crypto prices surged during the COVID pandemic. They promised easy loan access and eye-popping interest rates to depositors, then lent out tokens to institutional investors, hoping to profit from the difference.

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Mashinsky was one of several crypto moguls to be charged with fraud after a slump in crypto prices in 2022 caused a number of companies, including now-bankrupt exchange FTX, to collapse.

Prices for digital assets like Bitcoin have since surged, in part due to optimism about President-elect Donald Trump’s expected policies friendly toward cryptocurrency.

Celsius’ former chief revenue officer, Roni Cohen-Pavon, pleaded guilty in September 2023 and agreed to cooperate with prosecutors’ investigation.

FTX’s founder Sam Bankman-Fried was convicted of stealing roughly $8 billion from the exchange’s customers in November 2023 and sentenced in March to 25 years in prison.

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Donald Trump denies posting AI image of himself as pope

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Donald Trump denies posting AI image of himself as pope

Donald Trump has denied posting an AI image of himself as pope – and said Catholics who were offended “can’t take a joke”.

A picture of the president wearing white and gold robes in the style of a pontiff was posted to his account on Truth Social and caused outcry among some Christians.

“I had nothing to do with it, somebody made a picture of me dressed like the Pope and they put it out on the internet,” he said on Monday.

“That’s not me that did it, I’ve got no idea where it came from, maybe it was AI.”

When it was pointed out to him that some Catholics were offended by the image, he replied: “Oh, they can’t take a joke.”

“The Catholics loved it,” he also claimed.

Pic: Donald Trump/Truth Social
Image:
Pic: Donald Trump/Truth Social

President Trump insisted that he first saw the image – which was posted on Friday night on his Truth Social account and later promoted by the White House on its official X account – on Sunday evening.

He also noted that first lady Melania Trump “thought it was cute”.

President Trump was not baptised as a Catholic and therefore is ineligible to be pope, neither is he allowed to participate in the conclave.

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Some 133 cardinal electors – those under the age of 80 – will take part in the conclave and begin voting for the new pontiff on Wednesday after the death of Pope Francis last month.

The rituals of the event, held in the Sistine Chapel in the Vatican, are elaborate and date back centuries.

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UK

Two motorbike racers killed in 11-bike crash during British Supersport race at Oulton Park

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Two motorbike racers killed in 11-bike crash during British Supersport race at Oulton Park

Two motorcycle racers have died after a crash involving 11 bikes during a British Supersport Championship race at Oulton Park in Cheshire.

Owen Jenner, 21, was treated trackside and taken to the circuit’s medical centre, but organisers said he died from a “catastrophic head injury”.

Shane Richardson, 29, sustained severe chest injuries and was also given treatment at the scene.

He was transferred to Royal Stoke University Hospital but died before he arrived.

A third rider, Tom Tunstall, 47, is at the same hospital with what organisers called “significant back and abdominal injuries”.

Five others from the British Supersport race were taken to the track’s medical centre but didn’t need hospital treatment.

Motorsport Vision Racing, which runs the race series, said the crash happened on the first lap as riders exited turn one at Old Hall corner.

It said there was a “chain reaction” with 11 riders coming off their bikes.

“Due to the extreme severity of the incident and ongoing medical intervention, the remainder of the Bennetts British Superbike Championship event was cancelled,” organisers said in a statement.

Cheshire Police said they were investigating two deaths on behalf of the coroner.

“The Motorcycle Circuit Racing Control Board and MotorSport Vision Racing are investigating the full circumstances of the incident in conjunction with the Coroner and Cheshire Police,” the force said in a statement.

Jenner, from Crowborough, East Sussex, was the 2024 British GP2 champion and was signed to Rapid Honda.

New Zealand superbike racer Richardson was in the Astro JJR HIPPO Suzuki team sponsored by Hippo waste removal service.

Brady Dyer, a councillor in New Zealand’s Lower Hutt city, paid tribute to Richardson on Facebook saying he was a “talented” rider.

“My thoughts are with the family and friends of Shane Richardson, a talented Kiwi rider who tragically lost his life while doing what he loved.

“Shane was proud to be from Wainuiomata and was admired both locally and abroad for his skill and passion.

“This is a heartbreaking loss, and I know many in our community will be feeling it deeply.”

Harley McCabe paid tribute to Jenner as he said in a Facebook post: “Today I lost my team mate [heartbreak emoji], words cant explain how I feel right, now I’m absolutely devastated that I won’t see your smile again.

“You have been there for me over the years and been an amazing team mate and turned into more of an older brother to me!

“The awning will never be the same, we’ve lost a massive part of us all today.”

Mr McCabe added: “Sending love to Owen’s family and friends.”

The British Supersport Championship features 600cc machines and is the main support class to the blue riband professional British Superbikes series.

The Oulton Park event was the opening round of this year’s championship, which takes place at circuits around the UK.

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Both riders had posted on social media in recent days about looking forward to this weekend’s races

Jenner was also a superstock champion in 2020 and 2023, and won last year’s GP2 title with 18 wins out of 20 race finishes. After, he signed with British superbike team Rapid Honda.

Richardson, a father-of-two, worked as a part-time test rider for Triumph, according to his social media.

According to his team, Astro JJR Hippo Suzuki, he previously had a business crafting bespoke kitchens before moving into “competing on the UK’s premier racing circuits”.

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Man charged after British student nurse stabbed to death in Texas ‘following fight over cat’

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Man charged after British student nurse stabbed to death in Texas 'following fight over cat'

A man has been charged after a British student nurse was stabbed to death in Texas days before she was due to graduate, according to reports in the US.

Elizabeth Tamilore Odunsi, also known as Tamilore Odunsi, was found dead by police at her home in Houston shortly before 4pm local time on Saturday 26 April, Sky’s US partner network NBC News reports.

Officers had arrived to conduct a welfare check but when they knocked on the door there was no answer.

They saw blood on a rear concrete patio and entered the apartment, where they found the 23-year-old on the kitchen floor with multiple stab wounds.

Ms Odunsi, who is reported to be originally from London, was pronounced dead at the scene.

Chester Lamar Grant: Pic: Houston Police Department
Image:
Chester Lamar Grant: Pic: Houston Police Department

A man, later identified as her roommate Chester Lamar Grant, was found in a bedroom with at least one stab wound and was taken to hospital in a critical condition, police said.

The 40-year-old was arrested on Friday 2 May and has been charged with Ms Odunsi’s murder.

He currently remains in custody at Harris County Jail in Texas with a bond set at $500,000 (around £375,000).

A magistrate has said in a preliminary hearing that the roommates had been involved in a fight over Grant’s cat, according to ABC News.

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Ms Odunsi had a TikTok account, Tamidollars, with more than 44,000 followers, where she posted about her life as a student at Texas Woman’s University.

A GoFundMe page set up to bring Ms Odunsi’s body back to the UK for burial had received more than £63,000 in donations as of 3am UK time on Tuesday.

In a statement on the GoFundMe page, her sister Georgina Odunsi writes: “Tami was a beautiful soul, full of light, ambition, and kindness… She moved from the UK to the United States to pursue her dream of becoming a nurse, dedicating herself to a life of care and service.”

She continues: “Tragically, Tami was brutally murdered just days before she was set to graduate from university – an unimaginable loss at a moment that should have marked the beginning of a bright and promising future.”

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