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New York Attorney General sues Celsius CEO Alex Mashinksy for defrauding investors

January 5, 2023
https://web3isgoinggreat.com/?id=new-york-attorney-general-sues-celsius-ceo-alex-mashinksy

New York Attorney General sues Celsius CEO Alex Mashinksy for defrauding investors

As Celsius bankruptcy proceedings continue on, the New York Attorney General has come out with a lawsuit against the company's founder and CEO, Alex Mashinsky. Attorney General Letitia James accuses Mashinsky of "engag[ing] in a scheme to defraud hundreds of thousands of investors", promoting his company as a "safe alternative to banks while concealing that Celsius was actually engaged in risky investment strategies".The lawsuit seeks to permanently bar Mashinsky from engaging in similar business in the state, and seeks disgorgement, damages, and restitution.

Web3 is Going Just Great
I wonder how many more cases like this one are in the pipeline, given this was... kind of the business model of 2021/2022
“I'm cold and I am shamed lying naked on the floor," I confide to Hewlett Packard tech support
And as the scorpion crossed the river he clacked his pincers and chanted: FROG BOAT FROG BOAT FROG BOAT FROG BOAT

I write a lot about what's wrong with the internet and our online spaces, but once in a while an idea to make things better comes along that I think is worth considering. "Bridging algorithms" is one of those.

Here's my story on how they work, how they could help, and what some downsides might be: https://www.washingtonpost.com/politics/2023/01/11/social-media-can-be-polarizing-new-type-algorithm-aims-change-that/

Social media can be polarizing. A new type of algorithm aims to change that.

« Bridging systems » offer a roadmap for countering divisive content.

The Washington Post
Boost this toot if you're planning on sticking around Mastodon whether or not it becomes more popular than the birdsite.

How to phish me:

Send me an email newsletter hyping your
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That’ll do it.

Engagement-based social media algorithms have a "bias toward division," @aviv & @lukethorburn argue, rewarding (and thus incentivizing) content that's maximally inflammatory.

"Bridging algorithms" seek to counter that tendency by rewarding content that resonates with a diverse audience--not just one faction. https://www.washingtonpost.com/politics/2023/01/11/social-media-can-be-polarizing-new-type-algorithm-aims-change-that/

Social media can be polarizing. A new type of algorithm aims to change that.

« Bridging systems » offer a roadmap for countering divisive content.

The Washington Post

Henrietta Lacks was a poor, Black, young mother diagnosed cervical cancer in 1951. When her cells were collected w/o consent, scientists saw they multiplied fast.

“HeLa” cells changed #science. They’re used globally to study viruses, drugs, hormones, genes, diseases & develop vaccines. Lacks passed away at 31 w no recognition.

Rebecca Skloot’s beautiful book about her life & legacy is changing that. Now her statue will replace Robert E. Lee in VA. https://www.nytimes.com/2022/12/20/us/henrietta-lacks-statue-roanoke-virginia.html?smid=nytcore-ios-share&referringSource=articleShare #history #HistoryRemix

A Statue of Henrietta Lacks Will Replace a Monument to Robert E. Lee

The statue, scheduled to be erected next fall in Roanoke, Va., is part of a local project to recognize Black history in community spaces.